AMD sells DTV business to Broadcom

BANGALORE, INDIA: AMD, a provider in innovative technology services, today announced completion of the sale of its Digital TV (DTV) processor business to Broadcom Corporation.

AMD announced a definitive agreement to sell its DTV business on August 25 as part of its strategy to become leaner and more focused, while seeking to create a business model to deliver sustainable profitability and leadership in core x86 computing and graphics businesses, said a press release.

It received $141.5 million in cash, subject to certain escrows and adjustments pursuant to the terms of the definitive asset purchase agreement, said the release.