Tuesday, December 17, 2013

LSI Acquired By Avago For $6.6 Billion

San Jose-based LSI was acquired by Avago Technologies Limited in a deal worth $6.6 billion on Monday. Avago said it would acquire LSI for $11.51 per share in an all-cash deal. Avago said the deal was backed by a $4.6 billion term loan from banks, as well as $1 billion from Silver Lake Partners. LSI Corporatio is a major provider of semiconductors and software for the networking, storage, and data center market. Avalog is a analog semiconductor developer.