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Silicon Laboratories Sells Aero Product Line For $285M

Austin, Texas-based Silicon Laboratories, a manufacturer of mixed-signal integrated circuits, said Thursday that it will sell its Aero transceiver, AeroFONE single-chip phone and power amplifier product lines for $285M in cash to NXP. NXP is the former Philips Semiconductor. The deal also includes $65M in earnout over three years. The transaction is expected to close by the end of Q1 of 2007. Silicon Laboratories was advised by Morgan Stanley in the deal.