SEAGATE COMPLETES ACQUISITION OF LSI’S FLASH BUSINESSES FROM AVAGO

Seagate Technology_logo Seagate Technology plc  (NASDAQ: STX), a world  leader in storage  solutions,  announced it has completed  its previously announced  acquisition of the assets of  LSI’s Accelerated Solutions  Division (“ASD”)  and Flash  Components Division (“FCD”)  from Avago Technologies Limited  (NASDAQ:AVGO).

“There is a growing opportunity for mobile and enterprise flash-based storage solutions, which is why we’re excited about this strategic technology acquisition,” said Steve Luczo, Seagate Chairman and CEO. “Integrating LSI’s Enterprise PCIe flash and SSD controller products, and its engineering capabilities into Seagate’s leading storage technology portfolio and product development will expand our ability to meet a broader base of customers’ needs and drive new revenue opportunities.”

This technology acquisition immediately boosts Seagate’s range and depth of flash storage capabilities and brings additional engineering expertise to accelerate its roadmap in the growing flash market. LSI’s ASD business has the broadest PCIe flash product offering and intellectual property in the market today and its FCD business has best-in-class SSD controllers with proven support for a wide range of applications.

 

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