Business News Brief

NEWS BRIEF // Intel buys Avago’s networking business for $650m

intel
Share on Facebook
Tweet about this on TwitterShare on Google+Share on StumbleUponShare on LinkedInPin on PinterestShare on Reddit

intel

Avago Technologies Ltd agreed to sell their LSI’s Axxia networking business to Intel corporation .The deal is finalised at a price of  $650m that too in cash.

The deal is expected to close in the fourth quarter of  2014.  The company is also planning to sell its LSI’s flash storage business to Seagate Technology Plc for $450 min cash.

Analysts say that such decisions are being made  to focus on the fast growing storage chip market . Axxia’s business mainly includes networking and infrastructure products for wireless networks and enterprise gateways.



Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *