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.
Business Insider Emails & Alerts
Site highlights each day to your inbox.