Avago Technologies

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Avago Technologies Limited
Type Public
Traded as NASDAQAVGO
Industry Semiconductors
Founded 1960s
Headquarters San Jose, California, United States and Singapore
Key people Hock E. Tan, CEO
Products Analog Electronics
Revenue
  • Increase US$ 2,520.0 million (2013) [1]
  • Increase US$ 2,364.0 million (2012) [1]
Operating income
  • Decrease US$ 552.0 million (2013) [1]
  • Decrease US$ 582.0 million (2012) [1]
Net income
  • Decrease US$ 552.0 million (2013) [1]
  • Increase US$ 563.0 million (2012) [1]
Total assets
  • Increase US$ 3,415.0 million (2013) [2]
  • Increase US$ 2,862.0 million (2012) [1]
Total equity
  • Increase US$ 2,886.0 million (2013) [2]
  • Increase US$ 2,419.0 million (2012) [1]
Employees 8500
Website http://avagotech.com

Avago Technologies Limited is an American Singaporean company with joint headquarters in San Jose, California and Singapore. The core business of Avago Technologies is designing and developing of analog semiconductors, custom chips, radio-frequency and microwave components. It is currently expanding the IP portfolio into mobile technology.[3]

History[edit]

Austin Bull and Avago Technologies first began as the semiconductor products division of HP back in 1961. The first core products is based on LED technologies [4] It also become part of product division of Agilent Semiconductor Group [5][6] before being spun off into a distinct legal entity by KKR and Silver Lake in 2005.

Products[edit]

Avago Technologies provides a range of analog, mixed-signal and optoelectronic components and subsystems. Avago sells over a wide range of products customers in the wireless and wired communications, industrial and automotive electronics and consumer and computing target markets.

Avago's product families include:

Spin-Off[edit]

In late 2005 the semiconductor division of Agilent was acquired by Kohlberg Kravis Roberts and Silver Lake Partners, and became an independent company. Today it is one of the leading III-V semiconductor companies in the world, with approximately 3,200 employees and net revenue of $1.5 billion in fiscal 2009.

In 2006, PMC-Sierra purchased Avago Technologies storage semiconductor division.

In 2008, Avago Technologies filed a $400M IPO for the NASDAQ with the proposed ticker symbol AVGO.[7]

In 2009, Avago Technologies filed an amended registration statement with the SEC for an initial public offering of its common stock. The Company planned to offer 36,000,000 shares and expected the offering price to be between $13–$15 per share. The Company planned to list on the NASDAQ under the symbol "AVGO".[8] On Aug 5, 2009, Avago announced the initial public offering of 43,200,000 ordinary shares at a price to the public of $15.00 per share.[9]

Following the successful IPO, the company began trading under the symbol AVGO as a public corporation.

On February 28, 2011, Avago announced the pricing of a secondary offering of 25,000,000 ordinary shares at a price to the public of $32.50 per share, resulting in private equity firms holding under 50% of the Company's shares.[10]

On September 28, 2011, Avago announced the pricing of a secondary offering of 15,000,000 ordinary shares at a price to the public of $32.85 per share, resulting in private equity firms holding under 12% of the Company's shares.[11]

On December 16, 2013, Avago Technologies Limited (NASDAQ: AVGO) and LSI Corporation (NASDAQ: LSI) announced that they have entered into a definitive agreement under which Avago will acquire LSI for $11.15 per share in an all-cash transaction valued at $6.6 billion.[12]

On May 7, 2014, Avago Technologies replaced LSI (LSI) in the S & P 500 stock list.[13]

On May 29, 2014, Avago sold its SSD controller business (essentially the SandForce unit which LSI had bought two years earlier) to Seagate [14]

On Aug 12, 2014, Avago completed acquisition of PLX Technology [15]

On Aug 13, 2014, Avago sold LSI's Axxia Networking business to Intel after completion of LSI acquisition in May 2014 [16]

See also[edit]

References[edit]

  1. ^ a b c d e f g h "Avago Technologies LTD 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. December 20, 2013. 
  2. ^ a b "Avago Technologies LTD 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. March 13, 2014. 
  3. ^ http://www.eweek.com/c/a/IT-Infrastructure/Agilent-Spinoff-Begins-Business-as-Avago/1/
  4. ^ http://www.ledsmagazine.com/articles/2005/12/agilent-semiconductors-group-becomes-avago-update.html
  5. ^ http://www.procureinc.com/manufacturer/Agilent_Technologies_-_Avago_Technologies/
  6. ^ http://www.theregister.co.uk/2013/12/16/lsi_being_bought_for_beelions/
  7. ^ "Avago files for $400m IPO". 2008-08-28. 
  8. ^ http://www.streetinsider.com/IPOs/Avago+Tech.+(AVGO)+Sees+IPO+Price+of+%2413-%2415/4819722.html
  9. ^ http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090805&ID=10232934&Symbol=AVGO
  10. ^ "Avago Technologies Announces Sale of 25,000,000 Ordinary Shares by Selling Shareholders". Reuters. February 28, 2011. 
  11. ^ http://www.streetinsider.com/Press+Releases/Avago+Technologies+Announces+Sale+of+15,000,000+Ordinary+Shares+by+Selling+Shareholders/6816012.html
  12. ^ Barr, Alistair (December 16, 2013). "Avago agrees to buy LSI for $6.6 billion". USA Today. 
  13. ^ http://www.reuters.com/article/2014/05/05/sp500-brief-idUSWEN00D7J20140505
  14. ^ "Seagate to Acquire LSI’s Flash Businesses From Avago". May 29, 2014. 
  15. ^ "Avago technologies limited successfully completes tender offer for shares of PLX Technology, inc.". Aug 13, 2014. 
  16. ^ "Avago agrees to sell lsi's axxia networking business and related assets to Intel". Aug 13, 2014.