LSI Corp. (LSI) - NASDAQ
LSI is defunct.
  • May 29, 2014, 9:34 AM
    • Seagate (STX) is expanding its flash storage lineup - generally seen as a weakness as flash encroaches on hard drives - in a big way by acquiring LSI's PCIe server flash storage module/flash controller chip unit from new LSI parent Avago (AVGO) for $450M in cash.
    • Seagate, which already offers SSDs, notes the LSI unit is the #2 player in the PCIe flash market - Fusion-io (FIO +1%) is the largest - and that its offerings in the space are optimized for cloud/hyperscale deployments - Fusion-io also has a keen interest in this area. The unit's SandForce controllers have a number of SSD design wins.
    • Seagate expects its enterprise SSD and controller ops to produce at least $150M in revenue in FY15 (ends June '15), albeit with an op. margin headwind of $30M-$40M. Better profitability is expected in FY16.
    • The deal follows a string of flash storage acquisitions from archrival Western Digital: PCIe flash vendor Virident, SSD vendor sTec, and SSD caching software startup Velobit.
    • It appears to remove one more potential suitor for Fusion-io, long the subject of M&A speculation.
    | May 29, 2014, 9:34 AM | 3 Comments
  • Dec. 16, 2013, 8:29 AM
    • The $6.6B purchase by Avago Technologies (AVGO) of LSI Corp. (LSI) is a big bet that the company can jump right into networking and storage chips while also realizing some synergies on the cost side.
    • LSI lands a deal price of $11.15 per share to mark heights that shares haven't seen since 2006.
    • Early analyst feedback on the deal is positive due to the complementary nature of the companies, but investors haven't had their say yet with Avago still halted on the Nasdaq.
    | Dec. 16, 2013, 8:29 AM
  • Dec. 16, 2013, 8:13 AM
    • Avago Technologies (AVGO) buys LSI Corp. (LSI) for $11.15 per share in a $6.6B all-cash deal.
    • The company says it will use a $4.6B term loan and an investment from Silver Lake Partners to raise the funds to buy LSI.
    • Trading in shares of both companies has been halted.
    | Dec. 16, 2013, 8:13 AM
  • Oct. 26, 2011, 4:57 PM
    LSI agrees to acquire SandForce, a privately-held provider of flash storage processors for enterprise and client flash solutions and solid state drives, for $322M in cash. LSI -3.9% AH. (earnings)
    | Oct. 26, 2011, 4:57 PM | 1 Comment
  • Sep. 12, 2011, 7:33 AM

    Broadcom (BRCM) agrees to buy NetLogic Microsystems (NETL) for $3.7B in a definitive merger agreement expected to close in the first half of 2012. The firm calls the deal a "strategic fit" that should deliver financial results. Rivals in the space potentially seeing interest: LSI, CAVM, MRVL, VTSS, FSL, PMCS, AMCC.

    | Sep. 12, 2011, 7:33 AM
Company Description
LSI Corporation design, develop and market storage and networking semiconductors. The Company offers integrated circuits, computer servers, storage systems and personal computers.
Sector: Technology
Industry: Semiconductor - Specialized
Country: United States