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LSI becomes Avago, impact on Roch. office uncertain

2014-05-14 15:02:44| Semiconductors - Topix.net

Unofficial buzz around the change is that a decision is being made this week about keeping the Rochester jobs here or moving them out of state.

Tags: office impact uncertain lsi

Avago to acquire LSI for USD 6.6 bln

2013-12-17 09:25:00| Telecompaper Headlines

(Telecompaper) Avago Technologies is acquiring networking systems provider LSI for USD 11.15 per share in an all-cash transaction valued at USD 6.6 billion. Avago said the deal will create a highly diversified semiconductor market leader with around USD 5 billion in annual revenues and that it will add enterprise storage to Avago's existing wired infrastructure, wireless and industrial businesses. The combined company will be strongly positioned to capitalise on the growing opportunities created by the rapid increases in data centre IP and mobile data traffic, the company said. CEO Hock Tan said the combination will increase scale, diversify Avago revenue and customer base and that it will drive LSI operating margins up towards Avago levels. The deal will be accretive immediately to Avago's non-GAAP free cash flow and earnings per share. Avago is guiding for annual cost savings at a run rate of USD 200 million by the end of the fiscal year to 1 November 2015, the first full fiscal year after closing. Completion is expected for the first half of next calendar year. Avago intends to fund the transaction with USD 1.0 billion of cash from its balanced sheet, as well as a USD 4.6 billion term loan from a group of banks and a USD 1 billion investment from Silver Lake Partners. The boards of both companies have approved the acquisition, which is still subject to the usual closing conditions, as well as approval of LSI shareholders.

Tags: usd acquire lsi bln

Avago to Acquire LSI Corporation for $6.6 Billion

2013-12-16 21:20:55| Electronics - Topix.net

Avago Technologies Limited and LSI Corporation on Monday 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.

Tags: corporation billion acquire lsi

In Chip Deal, Singapore's Avago to Acquire LSI for $6.6 Billion

2013-12-16 18:07:45| Semiconductors - Topix.net

Avago Technologies, a Singapore-based company that makes chips that go into a variety of wireless and wired communications equipment, said today that it will acquire LSI Corp., a San Jose, Calif., chipmaker, in a deal worth $6.6 billion.

Tags: deal billion chip acquire