----------------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
January 25, 2000
PMC-Sierra, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-19084 94-2925073
- ---------------------- ---------------------- -------------------------------
State of incorporation Commission File Number IRS Employer Identification No.
105-8555 BAXTER PLACE
BURNABY, BRITISH COLUMBIA, V5A 4V7, CANADA
(address of principal executive offices)
Company's telephone number, including area code: (604) 415-6000
-----------------------------------------------
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On January 25, 2000, Registrant acquired Toucan Technologies Limited
("Toucan"), an Irish Corporation. Toucan was a privately held company located in
Galway and Dublin, Ireland. Toucan offers expertise in telecommunications,
Digital Signal Processing (DSP) semiconductor design and embedded software for
networking applications.
Registrant purchased Toucan in exchange for approximately 300,000 shares of
Registrant's Common Stock and options to purchase Registrant's Common Stock.
Prior to the acquisition, Registrant owned approximately 7% of Toucan's
outstanding stock. The transaction will be accounted for as a
pooling-of-interests.
On March 3, 2000, Registrant acquired AANetcom, Inc. ("AANetcom"), a
Delaware corporation. AANetcom is a privately held, fabless semiconductor
company located in Allentown, Pennsylvania and San Jose, California. AANetcom's
technology is designed for use in gigabit or terabit switches and routers,
telecommunication access equipment, and optical networking switches in
applications ranging from the enterprise to the core of the Internet.
Registrant purchased AANetcom in exchange for approximately 4,800,000
shares of Registrant's Common Stock and options to purchase Registrant's Common
Stock. The transaction will be accounted for as a pooling-of-interests.
ITEM 5. OTHER EVENTS
On March 2, 2000, Registrant signed a definitive agreement to purchase
Extreme Packet Devices, Inc. ("Extreme"), an Ontario (Canada) corporation and a
privately held, fabless semiconductor company. Extreme, located in Kanata,
Ontario, Canada, specializes in developing semiconductors for high speed IP and
ATM traffic management at 10 Gigabits per second rates.
The agreement anticipates a purchase in exchange for Registrant's Common
Stock and options to purchase Registrant's Common Stock with a value of
approximately $415,000,000. The transaction requires approval by the
shareholders of Extreme prior to the closing. The transaction will be accounted
for as a pooling-of-interests.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned duly authorized person.
Date: March 20, 2000 PMC-SIERRA, INC.
/s/ John W. Sullivan
----------------------------
John W. Sullivan
Vice President, Finance and
Principal Accounting Officer