Avago will acquire LSI for $6.6 Billion

Screen shot 2013-12-17 at 10.56.14 AMBig 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.

Interestingly, this acquisition will bring with it a client that used to be its former parent, HP. Other notable customers include Cisco and Samsung.

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.

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