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Avago Completes Sale of LSI's Axxia Networking Business and Related Assets to Intel for $650 Million

SAN JOSE, Calif., SINGAPORE and SANTA CLARA, Calif., Nov. 18, 2014 (GLOBE NEWSWIRE) -- Avago Technologies Limited and Intel today announced the completion of the previously announced sale of LSI's Axxia Networking Business and related assets to Intel Corporation for $650 million in cash.

About Avago Technologies

Avago Technologies Limited is a leading designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products and complex digital and mixed signal CMOS based devices. Avago's product portfolio is extensive and includes thousands of products in four primary target markets: enterprise storage, wired infrastructure, wireless communications and industrial & other. For more information, visit Avago's website: www.avagotech.com.

About Intel

Intel (Nasdaq:INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. As a leader in corporate responsibility and sustainability, Intel also manufactures the world's first commercially-available "conflict-free" microprocessors. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com, and about Intel's conflict-free efforts at conflictfree.intel.com.

Intel and the Intel logo are trademarks of Intel Corporation in the United States and other countries. *Other names and brands may be claimed as the property of others.

CONTACT: AVAGO CONTACTS: Investor Relations Ashish Saran 408-435-7400 investor.relations@avagotech.com INTEL CONTACTS: Investor Relations Trey Campbell 503-696-0431 trey.s.campbell@intel.com Media Relations Krystal Temple 480-552-1760 krystal.temple@intel.com

Source:Avago Technologies