AMD Sells TV Chip Unit to Broadcom for $192.8m
Techtree News Staff, Aug 26, 2008 1630 hrs IST
The $192.8 million deal is aimed at making AMD a leaner, more focussed business, while increasing profitability and reducing debt.
In a move directed at increasing profitability and reducing debt, AMD has sold off its TV chip division to Broadcom Inc. for $192.8 million.
The TV chip division was involved in design and production of chips that process over-the-air broadcast signals and improve overall picture quality. These were widely used in an array of flat panels and rear projection displays.
Dirk Meyer, President and Chief Executive, AMD said, "AMD 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."
Broadcom officials were overheard saying that the company expects the newly acquired division to form the core of its DTV line of business.
The deal is expected to be closed by the end of the year.
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nice article
by guru, city, on Aug 29, 2008 09:38 PM, Report abuse Reply