Storage solutions vendor Seagate Technology is set to acquire the assets of LSI’s Accelerated Solutions Division (ASD) and Flash Components Division (FCD) from Avago Technologies for $450 million in cash.
The acquisition enables Seagate to have Enterprise PCIe flash and SSD controller capabilities to deliver solutions for the growing flash storage market.
LSI’s ASD business is the second largest player in the PCIe flash space. LSI’s FCD business, led by its SandForce SF2000 and SF3700 controller products, is driving a multi-product roadmap to address volume markets.
Seagate will be in a position to deliver a full suite of storage solutions.
Steve Luczo, Seagate chairman and CEO, said: “This acquisition immediately boosts Seagate’s range and depth of flash storage capabilities today, and these teams bring to Seagate the expertise to accelerate our roadmap in this important and growing market.”
In fiscal 2015, Seagate would expect the combination of its enterprise SSD product line and these SSD Controller families to generate revenues of at least $150 million.
InfotechLead News Team