LSI Corporation Acquired by Avago Technologies for USD $6.6B

Avago Technologies and LSI Corporation announced an agreement for Avago to acquire LSI for $11.15 per share in cash. The acquisition brings market leader LSI’s $5B in annual revenue through enterprise storage to Avago’s wired, wireless, and industrial business.

The acquisition is favorable for Avago to capture opportunities in data center IP and mobile data traffic, which are rapidly growing areas, in addition to widening its customer base.

More info: Press release, LSI Corporation, Avago Technologies