Semiconductors and Components

Intel to Buy Former LSI Networking Business for $650M

13 August 2014

Intel Corp. has signed a definitive agreement to acquire LSI’s Axxia networking business from Avago Technologies Ltd. for $650 million in cash, the companies announced Wednesday (Aug. 13).

The deal—already approved by both firms’ board of directors—is expected to close in the fourth quarter, the companies said. The deal remains subject to closing conditions, including regulatory approval, the firms said.

Avago (Singapore) agreed late last year to acquire LSI for about $6.6 billion. Avago said it decided to divest the Axxia business, which had sales of about $113 million last year and employs about 650 people.

Related links:



Powered by CR4, the Engineering Community

Discussion – 0 comments

By posting a comment you confirm that you have read and accept our Posting Rules and Terms of Use.
Engineering Newsletter Signup
Get the GlobalSpec
Stay up to date on:
Features the top stories, latest news, charts, insights and more on the end-to-end electronics value chain.
Advertisement
Weekly Newsletter
Get news, research, and analysis
on the Electronics industry in your
inbox every week - for FREE
Sign up for our FREE eNewsletter
Advertisement