Tuesday, March 31, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Intel Releases New Braswell SoCs
WD's My Passport X Delivers 2 TB of Storage for Xbox One and PC Gamers
Google To Use SSDs From Samsung: report
Microsoft Introduces The Surface 3
Samsung Now Offers New Lineup of 3-bit V-NAND Based 850 EVO SSDs for Ultrathin PCs
Samsung, LG End Legal Disputes
IBM Connects Internet of Things to the Enterprise
Project Spartan Web Browser Included In Latest Windows 10 Build
Active Discussions
how to copy and move data files to dvd-rw
cdrw trouble
Need serious help!!!!
burning
nvidia 6200 review
Hello
Burning Multimedia in track 0
I'm lazy. Please help.
 Home > News > PC Parts > Avago T...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, December 16, 2013
Avago Technologies Takes Over LSI For $6.6B


Chipmaker Avago Technologies Ltd. is buying LSI Corp. for $6.6 billion to help strengthen its position in the storage market.

The all-cash transaction is adding enterprise storage to Avago's existing wired infrastructure, wireless and industrial businesses.

"This highly complementary and compelling acquisition positions Avago as a leader in the enterprise storage market and expands our offerings and capabilities in wired infrastructure, particularly system-level expertise," stated Hock Tan, President and Chief Executive Officer of Avago. "This combination will increase the Company's scale and diversify our revenue and customer base. In addition to these powerful strategic benefits, as we integrate LSI onto the Avago platform, we expect to drive LSI's operating margins toward Avago's current levels, creating significant additional value for stockholders."

"This transaction provides immediate value to our stockholders, and offers new growth opportunities for our employees to develop a wider range of leading-edge solutions for customers," said Abhi Talwalkar, President and Chief Executive Officer of LSI. "Our leadership positions in enterprise storage and networking, in combination with Avago, create greater scale to further drive innovations into the datacenter."

Under the terms of the agreement, LSI's stockholders will receive $11.15 in cash for each share of LSI common stock they hold at closing, which is expected to occur during the first half of calendar 2014. Avago intends to fund the transaction with $1.0 billion of cash from the combined balance sheet and fully-committed financing from a group of banks and Silver Lake Partners.

Silver Lake Partners teamed with Michael Dell for the $24.9 billion acquisition of Dell. Avago said that Silver Lake's investment for the LSI transaction is expected to be a seven-year, 2 percent convertible note.

The transaction has been approved by the boards of directors of both companies and is subject to regulatory approvals in various jurisdictions and customary closing conditions, as well as the approval of LSI's stockholders.




Previous
Next
Amazon Studios to Shoot Original Series in 4K        All News        Android Jelly Bean Rolling Out For Xperia Z1 and Xperia Z Ultra
LG To Introduce 34-inch 21:9 UltraWide Monitors Lineup At CES     PC Parts News      PCIe SSD and TLC SSD to Gain Spotlight in 2014 PC SSD Market

Get RSS feed Easy Print E-Mail this Message

Related News
Avago to Sell LSI's Networking Business to Intel
Seagate to Acquire LSI's Flash Businesses
LSI Targets The Datacenter Market With The Nytro PCIe Flash Accelerator Cards
LSI SandForce SF3700 Flash Controller Promises Higher Levels of SSD Performance
LSI Demonstrated New SandForce Controller
LSI to Ship 12Gb/s SAS Host Bus Adapters
LSI Expands its Nytro Product Portfolio
LSI Syncro Storage Solution Now Available For Small and Medium Businesses
LSI Introduces ARM-based Communication Processors
LSI PCIe Flash Technology Selected by Intel to Accelerate Database and Big Data Applications
LSI to Ship New 12Gb/s SAS Products
Rambus and LSI Sign Patent License Agreement

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .