Avago Technologies

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Avago Technologies Limited
Public
Traded as NASDAQAVGO
Industry Semiconductors
Founded 1961
Headquarters San Jose, California, United States and Singapore
Key people
Hock E. Tan, CEO
Products Analog Electronics
Revenue US$ 4307 million
US$ 438 million
US$ 263 million
Total assets US$ 10,491 million
Total equity US$ 3243 million
Number of employees
8500
Website http://avagotech.com

Avago Technologies is a designer, developer and supplier of analog, digital, mixed signal and optoelectronics components and subsystems.[1][2] Hock Tan is the company's president and CEO.[2][3] Avago Technologies is jointly headquartered in San Jose, California and Singapore.[4][5][6][7]

History[edit]

The company was founded in 1961 as a semiconductor products division of HP.[3] The division separated as Agilent Technologies in 1999.[5][7][8] KKR and Silver Lake Partners acquired the division of Agilent Technologies in 2005 for $2.6 billion and formed Avago Technologies.[5] Avago Technologies agreed to sell its I/O solutions unit to PMC-Sierra for $425 million in October 2005.[9] In August 2008, the company filed an initial public offering of $400 million.[10][11] In October 2008, Avago Technologies acquired Infineon Technologies' based bulk acoustic wave business for €21.5 million.[12] In 2009, Avago Technologies went public on NASDAQ with the ticker symbol AVGO.[8][13] Avago Technologies announced its agreement to acquire CyOptics, an optical chip and component supplier, for $400 million in April 2013.[14][15] The acquisition aimed to expand Avago Technologies' fiber optics product portfolio.[15] In October 2013, Avago Technologies invested $5 million in Amantys, power electronics technology provider, as part of a strategic investment agreement between the two companies.[16] Avago Technologies announced its agreement to acquire LSI Corporation in December 2013 for $6.6 billion.[5][7][13][17][18] The acquisition helped move Avago Technologies away from specialized products and towards a more mainstream industry, which included chips, especially storage for data centers.[18]

The company sold its SSD controller business to Seagate in May 2014.[19] In August 2014, the company was the ninth largest semiconductor company.[6] Avago Technologies agreed to sell LSI's Axxia Networking business to Intel for $650 million.[8][20] The company also agreed to buy PLX Technology, an integrated circuits developer, for $309 million.[21]In Feb 2015, it was announced that Avago Technologies Limited had reached an agreement to Acquire Emulex Corporation for $8 per share in cash.[22]

Products[edit]

The company's technologies include fiber optic, LED, LSI, motion control encoders, optical sensors, radio frequency and microwave.[23] Avago Technologies also manufactures enterprise storage chips and PCIe switching and bridge chips.

See also[edit]

References[edit]

  1. ^ "Avago Tech. (AVGO) Sees IPO Price of $13-$15". Street Insider. 27 July 2009. 
  2. ^ a b Andrew Meola (26 February 2014). "Why Avago Technologies (AVGO) Is Up Today". The Street. Retrieved 2 January 2015. 
  3. ^ a b Steve Johnson (16 December 2013). "Avago offers $6.6 billion for San Jose chipmaker LSI". Contra Costa Times. Retrieved 2 January 2015. 
  4. ^ Mark Hachman (1 December 2005). "Avago Looks to Mobile". eWeek. 
  5. ^ a b c d Chris Mellor (16 December 2013). "Avago Technologies chomps up LSI for BEELLLIONS - in CASH". The Register. 
  6. ^ a b Soid Ahmad (29 August 2014). "Don't Ignore These Catalysts". Seeking Alpha. Retrieved 2 January 2015. 
  7. ^ a b c Alex Saltarin (17 December 2013). "Avago Technologies buys chip maker LSI Corp for $6.6 bn". Tech Times. Retrieved 2 January 2015. 
  8. ^ a b c "Intel Corporation Acquires Avago’s Networking Business". ValueWalk. 14 August 2014. Retrieved 2 January 2015. 
  9. ^ "Agilent chip group reborn as Avago". EE Times. 5 December 2005. Retrieved 2 January 2015. 
  10. ^ "LED maker Avago Technologies Ltd. files for IPO". LEDs Magazine. Retrieved 2 January 2015. 
  11. ^ "Avago Technologies (AVGO) Files $400M IPO". Street Insider. 25 August 2008. Retrieved 2 January 2015. 
  12. ^ Richard Wilson (1 October 2008). "Avago buys Infineon RF filter design team". Electronics Weekly. Retrieved 2 January 2015. 
  13. ^ a b Himanshu Arora (17 December 2013). "Singapore's Avago to buy storage chip maker LSI for $6.6 billion". Techspot. Retrieved 2 January 2015. 
  14. ^ Valerie Coffey (19 April 2013). "CyOptics Acquired for $400M by Avago Technologies". OSA. Retrieved 2 January 2015. 
  15. ^ a b "Avago Technologies to buy CyOptics". EET India. 12 April 2013. Retrieved 2 January 2015. 
  16. ^ Paul Buckley (1 October 2013). "Avago Technologies makes strategic investment in Amantys". EE Times. Retrieved 2 January 2015. 
  17. ^ Barr, Alistair (December 16, 2013). "Avago agrees to buy LSI for $6.6 billion". USA Today. 
  18. ^ a b Michael J. De La Merced (16 December 2013). "Avago to Buy LSI for $6.6 Billion". New York Times DealBook. Retrieved 2 January 2015. 
  19. ^ Dave Altavilla (21 January 2014). "LSI Set To Take PCI Express SSDs Mainstream With SandForce SF3700 Controller". Forbes. Retrieved 2 January 2015. 
  20. ^ "Intel acquires Avago networking business for US$650m". Malay Mail Online. 14 August 2014. Retrieved 2 January 2015. 
  21. ^ Sarah Drake (23 June 2014). "Avago to buy PLX Technology in $309M deal". Silicon Valley Business Journal. Retrieved 2 January 2015. 
  22. ^ "Avago Financial News 2015-02-25". 
  23. ^ Charles Payne (28 August 2014). "Good Time to Buy Avago Technology?". Fox Business. Retrieved 2 January 2015.