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Avago Technologies Ltd to Acquire CyOptics, Inc

Thursday, 11 Apr 2013 08:45am EDT 

Avago Technologies Ltd announced the execution of a definitive agreement to acquire CyOptics, Inc., Indium Phosphide (InP) optical chip and component technologies for the data communications and telecommunications markets, for an aggregate acquisition price of approximately USD400 million in cash. Avago intends to fund the transaction with cash on-hand. The transaction is expected to close during Avago's third fiscal quarter of 2013. Cowen and Company LLC provided a fairness opinion to Avago Technologies and Latham & Watkins LLP is serving as the Company's legal counsel. Raymond James & Associates, Inc. is serving as CyOptics' financial advisor and Goodwin Procter LLP is serving as the Company's legal counsel. 

Company Quote

-1.08 -1.45%
10 Jul 2014