Wednesday, October 24, 2007

LSI Completes Sale of Unit To Infineon

Milpitas-based LSI Corporation said this morning that it has completed the sale of its mobility products business to Infineon Technologies AG. The deal was worth $450M in cash, plus up to $50M in earnout in Q1 of 2009. The sale, which was announced in August, is part of an effort by LSI to narrow its broad portfolio of businesses. LSI's mobility business designed semiconductors and software for the mobile handset and satellite radio markets, and employs over 700 people.