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Infineon Completes Buy
LSI completes sale of mobility business to Infineon
October 24, 2007
1 Min Read
MILPITAS, Calif. -- LSI Corporation(NYSE:LSI) announced today that it has completed the sale of its mobility products business to Infineon Technologies AG (NYSE: IFX; FSE) for $450 million in cash, plus a performance-based payment of up to $50 million payable in the first quarter of 2009.
LSI announced the sale in August following a strategic review of the company's business portfolio. The mobility products business, which employs 700 people worldwide, designs semiconductors and software for cellular telephone handsets and complete chip-level solutions for satellite digital audio radio applications.
LSI Corp. (NYSE: LSI)
Infineon Technologies AG
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