Chipmaker Avago To Pay $6.6B For LSI

Law360, New York (December 16, 2013, 1:06 PM EST) -- Electronic chipmaker Avago Technologies Ltd. will purchase storage and networking semiconductor designer LSI Corp. for $6.6 billion, the companies said Monday, in a move Avago hopes will help catapult it to the top of the enterprise storage market.

Avago said Monday that the deal, which is expected to close during the first half of 2014, is expected to help propel the company toward its goal of achieving $5 billion in annual revenues. According to a Monday statement from the companies, Avago will acquire LSI for $11.15...
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