In August 1996, Sierra Semiconductor announced its decision to exit the personal computer modem chipset business, to restructure its other non-networking products and focus on its networking products. 150 employees were made redundant. In late 1996, it acquired Bipolar Integrated Technology in Beaverton, Oregon, for about $10 million to enter the Ethernet business. The headquarters was moved to Burnaby, and in June 1997, PMC Sierra overtook its parent, Sierra Semiconductor, changing its name to "PMC-Sierra". It acquired Integrated Telecom Technology Inc., San Jose, for $55 million in cash and stock in 1998.