Broadcom agreed to buy Zyray Wireless Inc., a developer of semiconductors for mobile phones, for $97.7 million in stock, the company said.

Zyray's chips help manufacturers add functions such as video and access to news through cellphones, Broadcom said. Zyray is Broadcom's fourth acquisition this year, said spokesman Henry Rael.

San Diego-based Zyray has 40 employees and Irvine based Broadcom with 2,876 workers worldwide, doesn't expect any firings to result from the acquisition, Rael said. 

By: Docmemory
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