San Jose-Based Avago Technologies to Sell Printer Chip Business to Marvell

San Jose, Calif. -- Avago Technologies, a privately held maker of semiconductors, said that it will sell its printer chip business to Santa Clara-based Marvell for $240 million in cash. The deal is expected to close within 60 days. Under the terms, Marvell could also pay up to $35 million more, based on the amount of revenue generated by the business. Avago said that the deal will allow it to concentrate its resources on growing markets, as well as its core business. The company plans to use the proceeds to further reduce the debt related to its buyout from Agilent Technologies in December.
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