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United States : INTEL is buys LSI networking unit from AVAGO TECHNOLOGIES for $650 MILLION

August 20, 2014

Intel Corporation announced the buyout of a networking business and assets from Avago Technologies in a cash deal for $650 million.

Rose Schooler, the general manager of the Communications Infrastructure Division in the Intel Intelligent Systems Group stated that the acquisition will enable Intel to boost its wireless access into a flexible network based on standard building blocks.

Avago is divesting the Axxia Networking Business of LSI to Intel. The transaction was approved by the boards at both companies. The deal is expected to close in Q4 of this year after government approvals and meeting customary closing conditions.

Schooler said, In the same way that Intel helped to transform the data center into a business enabler, Intel can help transform networking by providing new technologies and a portfolio of solutions that allow for new innovative services and efficient scaling of a more flexible, cost effective network infrastructure.

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Source: TendersInfo (India)

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