April 28, 2016
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Shares of Broadcom Ltd. were up after the chipmaker announced adjusted profits in the May quarter that topped Wall Street expectations and gave a sales outlook for the current quarter.
Broadcom Ltd. has agreed to sell its wireless infrastructure backhaul business for $80 million to MaxLinear Inc. in the latest divestiture led by Chief Executive Hock Tan.
Broadcom Ltd. has sold its Internet of Things business and related assets for $550 million to Cypress Semiconductor Corp. in San Jose