Wednesday, July 22, 2009

LSI Acquires OnStor

Milpitas-based LSI Corporation disclosed Wednesday afternoon that it has signed a definitive agreement to acquire Campbell-based OnStor, a developer of clustered, network attached storage (NAS) products, in a deal worth $25M in cash. According to LSI, the buy will help it offer solutions for managing unstructured data. OnStor was venture backed by Mayfield Fund, Foundation Capital, and Sand Hill Capital, and had raised at least $50M in funding over its lifetime.