Thursday, March 10, 2011

LSI Sells External Storage Division To NetApp

Milpitas-based LSI Corporation said Wednesday afternoon that it will sell its external storage systems business to NetApp, in a deal worth $480M in cash. According to LSI, the move to divest its external storage semiconductor business comes because it believes it can maximize its long-term shareholder value, by becoming a pure-play semiconductor company. LSI's external storage systems business had revenues of $705M in 2010