SAN JOSE, Calif., Feb. 22, 2006 -- Avago Technologies, the world's largest privately held semiconductor company, announced yesterday it will sell its printer semiconductor business to communications and computer chip maker Marvell for $240 million in cash. The acquisition is expected to close within 60 days, pending regulatory approval and other customary closing conditions. Marvell may pay an additional $35 million if the printer ASICs (application-specific integrated circuits) business meets certain revenue goals during that time. The business supplies products for ink-jet and laser-jet printer systems. Marvell, headquartered in Sunnyvale, Calif., makes semiconductor chips used in communications switching, transceivers, communications controllers and storage. It also makes chips for wireless communications and PC connectivity. Avago says the sale enables the company to concentrate its resources in growing markets and its core businesses of optoelectronics, radio frequency/microwave components and enterprise ASICs such as CMOS image sensors. The company says it will use the money from the sale to pay down debt associated with its $2.6 billion buyout from Agilent Technologies Inc. in December 2005. Avago is the former chip division of Agilent, which was spun off from Hewlett-Packard Co. in 1999. "We believe the opportunities for growth and success for the printer ASICs business are best achieved by combining the unit with Marvell, given their desire to leverage their broad portfolio of high-performance silicon solutions," said Dick Chang, president and CEO of Avago Technologies. "The sale also allows Avago to focus on strengthening its remaining businesses through internal investments and acquisitions." For more information, visit: www.avagotech.com