Big news on the M&A front. Avago announced today that it had agreed to acquire LSI Corportion for $6.6 billion in cash. This move will further diversify Avago’s portfolio by enabling it to enter networking and storage IC markets, which are considered healthy markets with better margins.
A slew of M&A activities in the wireless industry players took place this quarter, most notably, the acqusition of Mindspeed by MA-COM, acquisition of Mindspeed’s wireless business by Intel and now the acquisition of LSI by Avago.
So, two more high tech names will disappear from our memories in the coming year.
- The Deal: Avago Broadens Base, $6.6 Billion Acquisition of LSI (thestreet.com)
- Silver Lake supports Avago’s $6.6 bln buy of LSI Corp (pehub.com)