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Avago agrees to buy LSI for $6.6 billion |
December 17, 2013
Semiconductor company Avago Technologies has agreed to buy storage and networking company LSI for US$6.6 billion in an effort to expand its data center offerings.The deal involves Singapore-based Avago paying $1 billion in cash, an equity investment of $1 billion by Silver Lake Partners and $4.6 billion in term loans from banks.The combined company will be positioned for growth in the data center business with mobile traffic increasing at a fast pace, the companies said in a joint statement.The growth in mobile traffic has increased the demand for networking equipment, with more of the data processing load falling on data centers.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2081060/avago-agrees-to-buy-lsi-for-66-billion.html#tk.rss_all
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