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Atheros today announced it was buying HomePlug chipmaker Intellon in a stock and cash transaction valued at approximately $244 M.

Atheros said the acquisition was to further its goal of enabling "universal, easy-to-use, networking solutions throughout the digital home".

Atheros expects to close the transaction in the fourth quarter of 2009, subject to Intellon shareholder approval as well as customary closing conditions and regulatory approvals.

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