SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): January 25, 1999


                       Alliance Semiconductor Corporation
             (Exact name of registrant as specified in its charter)

                                     0-22594
                            (Commission File Number)

  Delaware                                              77-0057842
  (State or other jurisdiction of           (I.R.S. Employer Identification No.)
  incorporation)

                            3099 North First Street,
                         San Jose, California 95134-2006
             (Address of principal executive offices, with zip code)

                                 (408) 383-4900
              (Registrant's telephone number, including area code)






Item 5.  Other Events.

         On January 25, 1999, Alliance Semiconductor Corporation  ("Registrant")
agreed to approve a proposed merger between Maverick  Networks  ("Maverick"),  a
startup company funded by Registrant,  Broadcom  Corporation  ("Broadcom") and a
wholly-owned  subsidiary  of Broadcom.  At the signing of the merger  agreement,
Registrant  owned  approximately  28.4%  of  the  total  outstanding  shares  of
Maverick.  In February 1998,  Registrant  entered into investment and technology
license  agreements  with  Maverick  intended to assist  Maverick in  developing
integrated semiconductors for multi-layer network switches.

         Broadcom  is  expected  to issue  864,200  shares of its Class B Common
Stock in  exchange  for all shares of  Maverick's  Preferred  and Common  Stock,
including  shares  issuable  upon  exercise of employee  stock options and other
rights.  The  agreement  has been  approved  by the Board of  Directors  of both
companies  and,  according  to Broadcom,  is expected to close in  approximately
ninety (90) days.  The  transaction  is subject to the  approval  of  Maverick's
shareholders  and  satisfaction  of  regulatory  requirements  and other closing
conditions.

         Risk Factors

         All statements in this Report reflecting  Registrant's  anticipation of
receiving shares of Broadcom Class B Common Stock are forward-looking;  the risk
factors set forth below could cause  actual  results to differ  materially  from
those in the  forward-looking  statements.  The  transaction  is  subject to the
approval of Maverick's  shareholders and satisfaction of regulatory requirements
and other closing conditions.  In addition,  Registrant's receipt of such shares
is subject to regulatory approval.  There can be no assurance that such approval
will  be  obtained,  or if it is  obtained,  that it will  not be  delayed.  The
forward-looking statements in this Report speak only as of February 2, 1999 (the
date this Report is filed with the  Securities  and  Exchange  Commission).  The
Company  expressly  disclaims any obligation or undertaking to release  publicly
any updates or revisions to any forward-looking  statements  contained herein to
reflect  any change in the  Company's  expectations  with  regard  thereto or to
reflect  any change in events,  conditions  or  circumstances  on which any such
forward-looking statement is based, in whole or in part.

Item 7.  Financial Statements and Exhibits.

         (a)      Financial statements of businesses acquired.

                  Not applicable.

         (b)      Pro forma financial information.

                  Not applicable.

         (c)      Exhibits.

                  Not applicable.



                                      -2-




                                    SIGNATURE


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                      ALLIANCE SEMICONDUCTOR CORPORATION



Date:  February 2, 1999               By:    /s/ David Eichler
                                         ---------------------------------------
                                             David Eichler, Vice President
                                             Finance and Administration, and
                                             Chief Financial Officer