Austin-based Wintegra Sold to PMC-Sierra
Photo Courtesy of Wintegra, Inc.

PMC-Sierra Inc., a California-based semi-conductor company, has agreed to buy Austin-based Wintegra, Inc. for $213 million the companies announced Thursday.

PM-Sierra will pay the initial $213 million in cash, but has promised to pay an additional $60 million if Winetegra can match certain financial goals by the end of 2011.