LSI (SF) gets snatched up by Avago Technologies

[Zaxx]

Never heard of Avago but it seems they have some pretty deep pockets...they paid 6.6 Billion in cash!


'Avago Technologies Limited and LSI Corporation today announced that they have entered into a definitive agreement under which Avago will acquire LSI for $11.15 per share in an all-cash transaction valued at $6.6 billion. The acquisition creates a highly diversified semiconductor market leader with approximately $5 billion in annual revenues by adding enterprise storage to Avago's existing wired infrastructure, wireless and industrial businesses. The combined company will be strongly positioned to capitalize on the growing opportunities created by the rapid increases in data center IP and mobile data traffic.'

Full story at TPU.

[hecktic]

prior to the news LSI was trading around $8 so its a nice premium but is it enough ? LSI used to be a $90 stock way back in the day lol...

[AliG]

I'm pretty sure Avago is the company that produces the high end mice sensors. I'm fairly sure all the 8200 dpi mice contain the avago 9800 anyways

[Linchpin]

I'm pretty sure Avago is the company that produces the high end mice sensors. I'm fairly sure all the 8200 dpi mice contain the avago 9800 anyways

Yeah, most of the sensors in modern mice(just not the ultra budget variety I think) are made by Avago, both laser and optical.

[AliG]

I personally don't see why they would be interested in LSI, but then again I'm not a CFO