Items tagged with Avago

There are mergers, and then there are mega-mergers, such as the one that Avago Technologies and Broadcom just agreed to. The two chip makers have entered into a definitive agreement for Avago to acquire Broadcom for $37 billion as part of cash and stock deal, making it the largest transaction in the tech industry to date. Under terms of the agreement, Avago will pay Broadcom shareholders $17 billion in cash, giving them a 32 percent stake in the new company. The other $20 billion will be paid in stock. At that price, the two companies combined will have an enterprise value of $77 billion. They can also claim the most diversified communications platform in the semiconductor industry on combined... Read more...
A little bit of celebrating is in order for Avago Technologies, which said it signed a definitive agreement to sell LSI's Axxia Networking Business to Intel, the world's larger supplier of semiconductors, for $650 million in cash. The boards of directors for both Avago and Intel have already approved the deal, which is expected to close in the fourth quarter of 2014, barring any regulatory snags along the way. Avago owns an extensive portfolio of intellectual property serving markets in wireless communications, wired infrastructure, enterprise storage, and industrial. The Axxia business, which Avago came to own when it acquired LSI at the end of last year for $6.6 billion, is mostly involved... Read more...