LSI Logic to acquire SiliconStor, Inc.
LSI Logic Corporation announced it has signed a definitive agreement to acquire SiliconStor, Inc., a privately held company that provides silicon solutions for enterprise storage networks. SiliconStor is headquartered in Fremont, Calif. and has approximately 30 employees.
"As the demand for low cost, high-capacity storage solutions with reliable connectivity continues to grow, we are seeing a significant increase in the use of SAS and SATA disk drives in enterprise applications," said Bill Wuertz, senior vice president, Storage Components Group, LSI Logic. "The SiliconStor acquisition, in combination with our industry line-up of SAS controllers, will enable LSI to offer a complete portfolio of interoperable SAS, SATA, and software building blocks."
At closing of the acquisition, LSI expects to pay approximately $55 million in cash for SiliconStor. The closing of the transaction is subject to the satisfaction of customary closing conditions and is expected to occur in the first quarter of 2007.
