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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.
Intel to acquire wireless assets of Mindspeed Technologies
2013-12-17 04:01:45| Wireless - Topix.net
Intel is taking steps to acquire wireless assets in order to compete with chip rivals such as Qualcomm and Mellanox in the mobile device and data center market.
Tags: technologies
wireless
assets
intel
New Zealand Energy wins approval to acquire Wairoa permit stake
2013-12-17 01:00:00| Hydrocarbons Technology
NZEC Wairoa (NZEC) is a subsidiary of New Zealand Energy and has secured a final approval from New Zealand Petroleum & Minerals (NZPAM) to acquire 80% ownership in the Wairoa permit (PEP 38346). This will be taken over from Westech Energy New Zealand
Tags: energy
approval
zealand
permit
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
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