Avago Technologies completes acquisition of PLX Technology
Leader in PCI Express silicon and software technology acquired to bolster Avago’s datacenter offerings
SINGAPORE – Avago Technologies has completed the acquisition of PLX Technology by acquiring outstanding shares of the company’s common stock. The acquisition was completed as a merger under Delaware law on August 12th, making PLX a wholly-owned subsidiary of Avago and ending public trading of PLX shares on the NASDAQ stock exchange.
As of midnight on August 11, 80.3 percent of 40,993,851 shares of PLX common stock had been validly tendered and will be paid in accordance with the terms of the tender offer. At $6.50 per share, the cash transaction is valued at around $298 million.
Hock Tan, CEO, Avago said that the PLX portfolio “fits very well with the Avago business model and broadens Avago’s portfolio serving the enterprise storage and networking end markets.”