Avago (AVGO +0.1%) is close to buying Schneider Electric's (SBGSF.PK) sensor division for ~$1B,...

|By:, SA News Editor

Avago (AVGO +0.1%) is close to buying Schneider Electric's (SBGSF.PK) sensor division for ~$1B, Reuters reports. A purchase would put Avago, which currently has a $9B market cap and almost no debt, on better footing in the sensor market against Texas Instruments, STMicroelectronics, and a slew of Japanese rivals.