Avago Technologies Announces Agreement to Sell Printer ASICs Business to Marvell(R); Strategic Sale Consolidates Focus on Core Businesses.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- Avago Technologies Avago Technologies is an American company which was earlier the semiconductor products division of HP and later Agilent Technologies, before being spun off into a distinct legal entity. It holds more than 2,000 patents. , 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 Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. 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 Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , 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 This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. All other trademarks are the property of their respective owners. |
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