AMD sells DTV biz to Broadcom for $192.8 million
AMD announced today that Broadcom has agreed to purchase AMD’s digital TV (DTV) business for a sum of $192.8 million dollars. According to AMD, “the acquisition of AMD’s DTV business is expected to enable Broadcom to immediately scale its DTV business, and, in conjunction with its existing products, to offer a complete product line that covers all segments of the DTV market ranging from low-end value and mid-range quality to high-end interactive platforms and panel processors. “
AMD’s DTV staff of around 530 people are also invited to join Broadcom as part of this deal. The deal should close during the fourth quarter of this year.
According to Dirk Meyer, President and CEO of AMD, the company is “executing a strategic plan to transform the company, becoming leaner and more focused while seeking to create a business model to deliver sustainable profitability.
[Check it out via NYTimes]
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