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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)
September 29, 2000
PMC-Sierra, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-19084 94-2925073
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State of incorporation Commission File Number IRS Employer Identification No.
250-900 East Hamilton Avenue
Campbell, CA 95008
(address of principal executive offices)
Company's telephone number, including area code: (408) 626-2000
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Item 2. Acquisition or Disposition of Assets
On September 29, 2000, PMC-Sierra, Inc. completed the acquisition of SwitchOn
Networks, Inc., a privately held company with locations in Milpitas, California
and Pune, India. SwitchOn makes processors that inspect the packets of data that
make up a data communications signal. Once a packet is inspected, SwitchOn's
products generate statistics for traffic monitoring, classify packets for
bandwidth allocation and other value-added services, and facilitate customer
billing.
In connection with the acquisition, PMC will issue approximately 2.1 million
shares of common stock, stock options and warrants in exchange for all
outstanding shares of SwitchOn stock, stock options and warrants. PMC expects to
account for this acquisition as a pooling of interests.
Pursuant to the requirements of the Securities Exchange Act of 1934, PMC has
duly caused this report to be signed on its behalf by the undersigned duly
authorized person.
Date: October 3, 2000
PMC-SIERRA, INC.
/s/ John W. Sullivan
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John W. Sullivan
Vice-President, Finance and
Principal Accounting Officer