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.

Steve Johnson Steve Johnson (296 Posts)

Steve Johnson covers the microchip industry, cyber security and the big-technology sector that includes Hewlett-Packard, Oracle and Cisco Systems.