Avago agrees to buy LSI for $6.6 billion

Singapore-based Avago Technologies has agreed to buy San Jose chipmaker LSI for $6.6 billion.

The companies said Monday that their boards have agreed to the transaction and that it’s expected to be concluded in the first half of next year.┬áLSI’s shareholders and government regulators still have to approve the deal.

Avago, which makes analog chips for wireless, industrial and other applications, wants LSI’s business data-storage chips.

The proposed transaction comes just three months after Santa Clara semiconductor-equipment maker Applied Materials announced a $9.39 billion deal to buy Tokyo Electron.

 
 

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