In a quite a surprise move, at least after they have sold the LSI to Seagate, Avago Technologies Limited and the PLX Technology have announced that they have entered into a definitive agreement under which will Avago acquire PLX in an all-cash deal worth US $309 million.


According to the announced details of the deal, Avago will acquire PLX for around US $309 million, or US $293 million net cash and debt, with US $6.50 per share in cash.

"The core PLX PCIe silicon business fits very well with the Avago business model and broadens Avago's portfolio serving the enterprise storage and networking end markets," stated Hock Tan, President and Chief Executive Officer of Avago. "Following the closing of the transaction, we are excited to welcome the PLX team to Avago, and we are committed to continue to invest in the PLX PCI Express platform."

"Once closed, this transaction will provide immediate value to our stockholders and offers new growth opportunities for our employees to develop leading-edge solutions for our customers," said David Raun, President and Chief Executive Officer of PLX. "Following the closing of the transaction, we believe the combination with Avago is an excellent match for our leading PCI Express portfolio supporting next generation data center architectures."

According to this, Avago will definitely continue to focus and invest in the PLX PCI Express platform so we will see those bridge chips in future as well.

According to the announcement, the transaction will close and the deal will be finalized in the four quarter of fiscal year, ending November 3rd this year.



Source: via Techpowerup.com.