Avago Technologies Announces Agreement to Sell Printer ASICs Business to Marvell(R); Strategic Sale Consolidates Focus on Core Businesses

SAN JOSE, Calif.—(BUSINESS WIRE)—Feb. 21, 2006— Avago Technologies, the world's largest privately held semiconductor company, today announced it has signed a definitive agreement to sell its Printer ASICs business to Marvell for $240 million in cash upon closing. The acquisition is expected to close within 60 days following the satisfaction of regulatory requirements and other customary closing conditions. Marvell may pay an additional $35 million based upon the achievement of certain revenue targets by the Printer ASICs business.

Marvell, headquartered in Santa Clara, Calif., is the leader in storage, communications and consumer silicon solutions.

The sale enables Avago Technologies to further concentrate resources in growing markets and its core business. The company anticipates using the net cash proceeds from the sale to further reduce the debt related to its buyout from Agilent Technologies in December 2005.

"We believe the opportunities for growth and success for the Printer ASICs business are best achieved by combining the unit with Marvell, given their desire to leverage their broad portfolio of high-performance silicon solutions," said Dick Chang, president and CEO of Avago Technologies. "The sale also allows Avago to focus on strengthening its remaining businesses through internal investments and acquisitions."

About Avago Technologies

Avago Technologies is the world's largest privately held semiconductor company, with 6,500 employees and net revenue of $1.8 billion in fiscal 2005. Avago provides an extensive range of analog, mixed-signal and optoelectronic components and subsystems to more than 40,000 customers worldwide. The company serves three primary product categories comprising optoelectronics, RF/microwave components and enterprise ASICs, and is recognized for providing innovative, high-quality products along with strong customer service and the industry's best on-time delivery. Avago's heritage of technical innovation dates back 40 years to its Agilent/Hewlett-Packard roots. Information about Avago is available on the Web at www.avagotech.com.

Avago, Avago Technologies, and the A logo are trademarks of Avago Technologies, Ltd. and its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.



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