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.



Contact:
Avago Technologies
Joanne Hasegawa, 408-435-6961

Email Contact
Mark Alden, 408-435-6905

Email Contact
    or
Joyce Weng, +886 2 27345675 (Asia)

Email Contact



Review Article Be the first to review this article
CST: Webinar October 19, 2017

Aldec

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
DVCon Europe 2017: Munich and So much more
More Editorial  
Jobs
Field Application Engineer for Teradyne Inc at San Jose, CA
FPGA Engineer for Teradyne Inc at San Jose, CA
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Analog Hardware Engineer for Teradyne Inc at San Jose, CA
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Upcoming Events
Preparing for the Cognitive Era: Education, Occupation and You at SJSU Student Union Theater 211 South 9th Street San Jose CA - Oct 18, 2017
11th International Symposium on Networks-on-Chip (NOCS 2017) at Seoul Korea (South) - Oct 19 - 20, 2017
15th IEEE/ACM ESTIMedia 2017 at Seoul Korea (South) - Oct 19 - 20, 2017
ESTIMedia 2017 at Seoul Korea (South) - Oct 19 - 20, 2017
CST: Webinar series



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise