Cavium Networks completes US$10 million acquisition of Wavesat
Date Closed
January 25, 2011
Lead Office
Montréal
Value
10.00 Million USD
On January 25, 2011, Cavium Networks Inc. (“Cavium”) completed the acquisition of substantially all of the assets of Wavesat Inc. (“Wavesat”) for US$10 million in all cash.
This transaction was of particular interest as it occurred in an insolvency context. On January 18, 2011, Wavesat filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act (Canada). As such, Ernst & Young Inc. was actively involved in the transaction as court-appointed trustee to Wavesat.
Cavium, headquartered in San Jose, California, is a leading U.S. public company active in the network and security processors industry.
Wavesat, headquartered in Montréal, Québec, is a developer, manufacturer and distributor of silicon microprocessors for broadband wireless communications.
McCarthy Tétrault LLP represented Cavium, the acquiror, with a team led by Alain Tardif.