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EZchip acquires Tilera for $130M

EZchip Semiconductor announced that it has signed a definitive agreement to acquire Tilera. Under the terms of the agreement, EZchip will pay Tilera's stockholders up to $130M in cash; of which $50M is payable at closing and up to an additional $80M is payable subject to the attainment of certain future performance milestones. The transaction has been approved by the EZchip and Tilera boards of directors and is subject to customary closing conditions. The transaction is expected to close in the Q3.