Financial News

SAN JOSE, Calif. and SINGAPORE, April 30, 2013 -- Avago Technologies Limited (Nasdaq:AVGO), a leading supplier of analog interface components for communications, industrial and consumer applications, today announced that it has acquired Javelin Semiconductor, Inc., an innovator of high performance radio frequency (RF) and mixed signal CMOS integrated circuits for wireless communications. Based in Austin, Texas, Javelin is a leading developer of high performance 3G CMOS power amplifiers (PAs). The acquisition of Javelin will form the foundation of Avago's RF CMOS design and development for its wireless semiconductor division.

"With Javelin, we will start to develop technology for next generation hybrid GaAs/CMOS front-end modules," said Bryan Ingram, SVP and Chief Operating Officer of Avago. "We believe these hybrid modules, leveraging our proprietary FBAR filters, will give Avago a unique opportunity to maintain its leadership position in high performance RF components for the smartphone market."

The acquisition of Javelin is not expected to have a material effect on Avago's financial condition or results of operations in the near term.

About Avago Technologies Limited

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. Avago's product portfolio is extensive and includes thousands of products in three primary target markets: wireless communications, wired infrastructure and industrial & other.

Cautionary Note Regarding Forward-Looking Statements

This announcement contains forward-looking statements, including statements by management, within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to statements about the expected benefits of the acquisition of Javelin, future financial and operating results following the closing of the transaction, plans, objectives, expectations and intentions with respect to future operations and products following the acquisition, our competitive position and opportunities as a result of the acquisition, and other statements identified by words such as "will", "expect", "intends", "believe", "anticipate", "estimate", "plan" and similar expressions. These forward-looking statements are based on current expectations, estimates, forecasts and projections of future company or industry performance, based on management's judgment, beliefs, current trends and market conditions, and involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Accordingly, we caution you not to place undue reliance on these statements. For Avago, particular uncertainties that could materially affect future results include, but are not limited to the failure to achieve the technological developments, growth prospects and competitive advantages expected from this transaction or any delay in the realization thereof; global economic conditions and concerns; cyclicality in the semiconductor industry or in our target markets; quarterly and annual fluctuations in operating results; loss of our significant customers; increased dependence on the volatile, wireless handset market; our competitive performance and its ability to continue achieving design wins with customers; dependence on contract manufacturing and outsourced supply chain and the ability to improve cost structure through manufacturing outsourcing; prolonged disruptions of our or our contract manufacturers' manufacturing facilities or other significant operations; dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain tax concessions in certain jurisdictions; the ability to protect our intellectual property and any associated increases in litigation expenses; dependence on and risks associated with product distributors; any expenses associated with resolving customer product and warranty and indemnification claims; our ability to achieve the growth prospects, synergies and cost savings expected from other acquisitions we may, including our planned acquisition of CyOptics, Inc.; delays, challenges and expenses associated with integrating acquired companies with our existing businesses; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Avago's filings with the Securities and Exchange Commission, or "SEC" (which you may obtain for free at the SEC's website at http://www.sec.gov) discuss some of the important risk factors that may affect its business, results of operations and financial condition. Avago undertakes no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.