Broadcom Buys AMD’s TV Chip Business For $192.8M (AMD, BRCM) - Henry Blodget

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1 pt	Broadcom Buys AMD’s TV Chip Business For $192.8M (AMD, BRCM)
	Aug 25, 2008 05:40 PM UTC

Henry Blodget

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Via Silicon Alley Insider:

As part of AMD's (AMD) effort to streamline itself to better compete with rival Intel (INTC), the company will sell its TV chip business to Broadcom (BRCM) for $192.8 million.

Broadcom was named as a likely buyer of the TV chip business last month, but it looks like the company got the division at a discount: AmTech's Mark Conley thought the purchase would happen at $250M-$375M, 1x-1.5x earnings for the division.

Broadcom offered jobs to 530 AMD employees, 90% of whom are engineers. The company said it would use the division to enter the market for cheap TVs.

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