News

posted on 10 March 2008 16:16

LSI is stepping up the ranks of hard disk drive semiconductor suppliers by buying all the assets and intellectual property of Infineon's HDD semicondustor business.

Ruediger Stroh, EVP and GM of LSI's Storage Peripherals Group, said: “Through the addition of the Infineon HDD business, LSI has taken another significant step toward becoming the leading worldwide provider of silicon solutions for hard disk drive makers. We expect the acquisition to immediately accelerate revenue with a top-tier customer, Hitachi Global Storage Technologies, while enhancing our competitive position in the desktop and enterprise space.”

What LSI is buying includes product designs, related software, inventory and test equipment. LSI also will enter into additional agreements with Infineon, including intellectual property, design services, transition services, and supply agreements. The transaction is expected to close within 60 days and is subject to the satisfaction of customary closing conditions and regulatory approvals. The financial terms are not being disclosed.

LSI, which is concentrating on storage and networking products, sold its mobility business to Infineon last year.

[Phil Robson, news editor.]