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PMC-Sierra Inc. (Nasdaq: PMCS) announced at the close yesterday that they are acquiring Passave, a company we have - written - about - extensively, for $300M in stock. In fact, I predicted PMC-Sierra would enter this business through an acquisition, though I thought Teknovus would be the better path.

"Our acquisition of Passave brings PMC-Sierra an experienced and highly innovative team with clear market share leadership in Passive Optical Networking solutions. This acquisition fits with our strategic intent to address the high-growth Fiber Access market and is aligned with PMC’s developments in Customer Premises Equipment,