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Avago Agrees to Sell LSI's Axxia Networking Business and Related Assets to Intel for $650 Million 2014.08.16

San Jose, Calif., Singapore and Santa Clara, Calif., USA - August 13, 2014 - Avago Technologies Limited and Intel Corporation today announced the signing of a definitive agreement for Intel to acquire LSI's Axxia Networking Business and related assets for USD650 million in cash. LSI's Axxia Networking Business is being divested from Avago following the recent completion of Avago's acquisition of LSI. The Axxia Networking Business generated revenues of USD113 million in calendar 2013 and employs approximately 650 people.

Courtesy of Intel
 

San Jose, Calif., Singapore and Santa Clara, Calif., USA - August 13, 2014

Avago Technologies Limited and Intel Corporation today announced the signing of a definitive agreement for Intel to acquire LSI's Axxia Networking Business and related assets for $650 million in cash.

The Axxia® Network Accelerator PCIe® cards provide inline and co-processor acceleration of security processing, content processing, and realtime services such as application recognition, network packet capture and network performance monitoring.
Courtesy of  
Avago Technologies
 
The transaction, which has been approved by the boards of directors for both Avago and Intel, is expected to close in the fourth calendar quarter of 2014 upon satisfaction of government approvals and customary closing conditions.

Courtesy of  Avago Technologies
 
LSI's Axxia Networking Business is being divested from Avago following the recent completion of Avago's acquisition of LSI
.

Courtesy of  Avago Technologies
 
The Axxia Networking Business generated revenues of $113 million in calendar 2013 and employs approximately 650 people
.

Courtesy of  Avago Technologies
 

About Avago Technologies

Avago Technologies Limited is a leading designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products and complex digital and mixed signal CMOS based devices.

 
 
Avago's product portfolio is extensive and includes thousands of products in four primary target markets: enterprise storage, wired infrastructure, wireless communications and industrial & other
.

 
 
For more information, visit Avago's website: www.avagotech.com  


About Intel

Intel (NASDAQ: INTC) is a world leader in computing innovation.
The company designs and builds the essential technologies that serve as the foundation for the world's computing devices.

 
 
As a leader in corporate responsibility and sustainability, Intel also manufactures the world's first commercially available "conflict-free" microprocessors
.

Additional information about Intel is available at newsroom.intel.com and blogs.intel.com and about Intel's conflict-free efforts at conflictfree.intel.com


CONTACTS:

AVAGO CONTACTS:
Investor Relations
Ashish Saran
408-435-7400
investor.relations@avagotech.com  

INTEL CONTACTS:
Investor Relations
Trey Campbell

503-696-0431
trey.s.campbell@intel.com  

Media Relations
Laura Anderson

480-552-9020
laura.m.anderson@intel.com  


Sources:

Intel Newsroom

http://newsroom.intel.com/  

Avago Technologies Limited

http://www.avagotech.com/pages/home/  



ASTROMAN Magazine - 2014.06.14

San Jose in California Implements Intel Technology for a Smarter City

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1732  


ASTROMAN Magazine - 2014.03.28

Intel Corporation and Cloudera announced a broad strategic technology and business collaboration

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1685  


ASTROMAN Magazine - 2014.02.24

Tomasz Klekowski, Intel: Uczmy się współpracy, komunikacji, zarządzania grupą

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1661  


ASTROMAN Magazine - 2014.01.11

WOW! CES! The magic of global innovation comes to life at the 2014 International CES

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1634  


ASTROMAN Magazine - 2014.01.08

2014 International CES Kicks off with Record Amount of Innovation

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1631  


ASTROMAN Magazine - 2013.12.14

Intel and FC Barcelona Announce Partnership Agreement

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1604  



Editor-in-Chief of ASTROMAN magazine: Roman Wojtala, PhD.


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