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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/

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