Post-Broadcom acquisition, Avago sells optical modules unit to Foxconn
Though its acquisitions have received more attention, Avago hasn't been shy about shedding assets along the way.
Fresh off its acquistion of Broadcom, Avago Technologies Ltd. (NASDAQ: AVGO) is reportedly selling its optical module unit to contract manufacturing giant Foxconn for an as yet-undisclosed sum.
Over 900 Avago employees will join Foxconn, reports SeekingAlpha. The new deal comes two years after Avago bought optical component maker CyOptics for $400 million; under its terms, Avago will hold onto its optical component business, and serve as Foxconn's exclusive optical component supplier.
SeekingAlpha notes that "though its acquisitions (CyOptics, LSI, PLX, Emulex, and soon Broadcom) have received more attention, Avago hasn't been shy about selling assets along the way."
Last year, Avago sold its flash storage module/controller chip business to Seagate for $450 million, and its Axxia network processor unit to Intel for $650 million.