BREAKING NEWS

Avago buys Israel's CyOptics for $400m

By GLOBES

APRIL 11, 2013 23:08

Jerusalem Venture Partners (JVP) announced Wednesday that it had signed an agreement to sell CyOptics Inc. to Avago Technologies Ltd., a developer of of analog interface components for communications, industrial and consumer applications, for $400 million in cash.

CyOptics is developing next-generation optical components for high-speed transmission of video content. Customers include governments and some of the world's biggest companies. The company is growing rapidly, tripling its sales in the past three years to $210 million in 2012.

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