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Broadcom Corp. (BRCM) plans to spend $3.7 billion on chipmaker NetLogic Microsystems Inc. (NETL) to benefit from surging demand for networking equipment that delivers video and Web access to mobile devices.

NetLogic investors will get $50 a share, a 57 percent premium to the closing price for the Santa Clara, California- based company on Sept. 9, Broadcom said in a statement.

Customers such as Huawei Technologies Co. and ZTE Corp. use NetLogic processors in the equipment that controls the flow of video and other data across the Internet. The deal gives Broadcom, which also makes chips for mobile handsets, a more profitable way to harness the boom in tablets and smartphones, said Stacy Rasgon, an analyst Sanford C. Bernstein & Co.

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