Adaptec 2002 Annual Report Download - page 61

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Reclassifications. Certain prior year amounts have been reclassified in order to
conform to the 2002 presentation.
NOTE 2. Business Combinations
Poolings of Interests:
Fiscal 2000
Acquisition of SwitchOn Networks Inc.
In September 2000, the Company acquired SwitchOn Networks Inc., a privately held packet content processor
company, with offices in the United States and India. Under the terms of the agreement, approximately
2,112,000 shares of common stock were exchanged and options assumed to acquire SwitchOn.
PMC recorded merger related transaction costs of $1.1 million related to the acquisition of SwitchOn. These
charges, which consisted primarily of legal and accounting fees, were included under costs of merger in the
Consolidated Statement of Operations for the year ended December 31, 2000.
Acquisition of Quantum Effect Devices, Inc.
In August 2000, the Company acquired Quantum Effect Devices, Inc., a public company located in the United
States. QED developed embedded microprocessors that perform information processing in networking equipment.
Under the terms of the agreement, approximately 12,300,000 shares of common stock were exchanged and options
assumed to acquire QED.
PMC recorded merger−related transaction costs of $23.2 million related to the acquisition of QED. These
charges, which consisted primarily of investment banking and other professional fees, were included under
costs of merger in the Consolidated Statements of Operations for the year ended December 31, 2000.
Acquisition of Extreme Packet Devices, Inc.
In April 2000, the Company acquired Extreme Packet Devices, Inc., a privately held fabless semiconductor
company located in Canada. Extreme specialized in developing semiconductors for high speed IP and ATM
traffic management at 10 Gigabits per second rates. Under the terms of the agreement, approximately
2,000,000 exchangeable shares (see Note 10) were exchanged and options assumed to acquire Extreme.
PMC recorded merger−related transaction costs of $5.8 million related to the acquisition of Extreme. These
charges, which consisted primarily of investment banking and other professional fees, were included under
costs of merger in the Consolidated Statements of Operations for the year ended December 31, 2000.
Acquisition of AANetcom, Inc.
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