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Intel to buy LSI's Axxia networking business
2014-08-14 08:48:00| Telecompaper Headlines
(Telecompaper) Avago Technologies and Intel announced the signing of a definitive agreement for Intel to acquire LSI's Axxia Networking Business and related assets for USD 650 million in cash. Adding the Axxia Networking Business capabilities to Intel's portfolio will help accelerate the company's strategy to become one of the leaders in platform products for network infrastructure. With its product portfolio, Intel aims to help operators create a more efficient, scalable and flexible network to keep up with future bandwidth demands while also allowing for fast provisioning of new services. LSI's Axxia Networking Business is being divested following Avago's recent completion of the acquisition of LSI. The Axxia Networking Business generated revenues of USD 113 million in calendar 2013 and employs approximately 650 people.
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Category:Telecommunications