Seagate sells SoC assets to Broadcom subsidiary for $600M cash

Seagate Technology Holdings plc

Sold SoC-related IP, equipment, and assets to Avago Technologies (Broadcom subsidiary) for $600M in cash.
Broadcom affiliate to offer employment to certain Seagate employees engaged in SoC operations.
Existing purchasing agreement with Broadcom subsidiary restructured as part of the transaction.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Seagate Technology Holdings plc entered into Asset Purchase Agreement with Avago Technologies International Sales Pte. Limited valued at $600,000,000 (effective 2024-04-23).

Action: entry
Agreement: asset purchase
Counterparty: Avago Technologies International Sales Pte. Limited
Value: $600,000,000
Effective: 2024-04-23

Exact text from the filing

On April 23, 2024, Seagate Technology Holdings public limited company (the “ Company ” or “ Seagate ”) and Seagate Technology LLC, a Delaware limited liability company, Seagate Technology HDD (India) Private Limited, a private company incorporated under the laws of India, and Seagate Singapore International Headquarters Pte. Ltd., a private company incorporated under the laws of Singapore, each a subsidiary of the Company (such subsidiaries, the “ Seagate Sellers ”), entered into an Asset Purchase Agreement (the “ APA ”) with Avago Technologies International Sales Pte. Limited, a private company incorporated under the laws of Singapore (“ Purchaser ”) and a subsidiary of Broadcom Inc.

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Source: SEC EDGAR

accession 0001193125-24-107068

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