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Provider : Wright Reports

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Avago Technologies Ltd to sell LSI's Axxia Networking Business and related assets to Intel Corporation

Wednesday, 13 Aug 2014 05:34pm EDT 

Avago Technologies Ltd and Intel Corporation:Signs definitive agreement for Intel to acquire LSI's Axxia Networking Business and related assets for $650 mln in cash.Transaction is expected to close in fourth calendar quarter of 2014.LSI's Axxia Networking Business is being divested from Avago following the recent completion of Avago's acquisition of LSI. 

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-0.205 -0.68%
1:13pm EDT