AMD Completes Sale of Digital TV Business to Broadcom
— AMD Receives $141.5 Million in Cash —
SUNNYVALE, CALIF. --
AMD (NYSE: AMD) today announced completion of the sale of its Digital TV (DTV) processor business to Broadcom Corporation (Nasdaq: BRCM).
AMD announced a definitive agreement to sell its DTV business on August 25 as part of its strategy to become leaner and more focused, while seeking to create a business model to deliver sustainable profitability and leadership in core x86 computing and graphics businesses.
In connection with the business sale, AMD received approximately $141.5 million in cash, subject to certain escrows and adjustments pursuant to the terms of the definitive asset purchase agreement.
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