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Tuesday, April 29, 2008
Conexant Sells Broadband Media Lines For $145M
Newport Beach-based Conexant said Tuesday morning that it has signed a definitive agreement to sell its Broadband Media Processing product lines to NXP Semiconductors. The deal is worth up to $145M, in a combination of $110M in cash plus up to $35M in future earn-out. Conexant's Broadband Media Processing business provides chipsets for satellite, cable, terrestrial, and IPTV set-top box applications. According to Conexant, the move is part of a continuing effort to restructure the company's business model and cost structure. The sale affects approximately 700 COnexant employees, who will transfer to NXP when the transaction closes.
posted on Tuesday, April 29, 2008
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