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Broadcom pays $18 million for Cirrus patents

Communications chipmaker Broadcom said Wednesday that it paid $18 million to acquire a set of storage technology patents from rival Cirrus Logic. Broadcom said the patents represent a subset of the patent portfolio that Cirrus has in the areas of optical and magnetic storage.

"We remain focused on continuing to expand the size and breadth of our patent portfolio, both organically and through acquisition, and are always interested in opportunities of this kind," Broadcom CEO Lanny Ross said in a statement.