LSI to Buy Infineon HDD Business

MILPITAS, Calif. -- LSI Corporation (NYSE: LSI) today announced that it has signed a definitive agreement to acquire the assets of the hard disk drive semiconductor (HDD) business of Infineon Technologies AG (FSE/ NYSE: IFX).

"Through the addition of the Infineon HDD business, LSI has taken another significant step toward becoming the leading worldwide provider of silicon solutions for hard disk drive makers," said Ruediger Stroh, executive vice president and general manager, Storage Peripherals Group, LSI. "We expect the acquisition to immediately accelerate revenue with a top-tier customer, Hitachi Global Storage Technologies, while enhancing our competitive position in the desktop and enterprise space."

LSI Corp.