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Henry Samueli
Chairman, Broadcom
Samueli said in a statement that he will keep his focus on chip designs and let others manage the hockey team.
"Our acquisition of the team assures that the Mighty Ducks will remain in the hands of local ownership committed to keeping the team in Orange County and putting a consistent winner on the ice," Samueli said.
The deal still requires the approval of the National Hockey League's board of governors.
Of course, to benefit significantly from the purchase, the league and its players' union must first end a labor dispute that has led to this season's cancellation.
The team is the latest investment for Samueli, who also owns the management company that runs Arrowhead Pond, the arena where the Ducks play.
Samueli and Henry Nicholas launched Broadcom in 1991 and built the company into one of the largest technology companies in Orange County, Calif. The company's stock rise made billionaires of both Henrys, landing the pair on Forbes' annual list of wealthiest Americans.
The company accelerated its growth in the early part of this decade with a spate of acquisitions but was hard-hit by slowdowns in telecommunications spending.
Nicholas stepped down as CEO in January 2003, but Samueli has remained at the company as its chairman and chief technical officer.
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