Seagate Acquires LSI’s Flash Business For $450 Million Ahead Of Enterprise Push
Seagate announced that it has acquired LSI’s Accelerated Solutions Division (ASD) and Flash Components Division (FCD) from parent Avago for $450 million in cash. What Seagate is getting is a nice big pile of enterprise PCIe-based flash and SSD controller technologies that will allow it to push harder into the enterprise storage space.
“Seagate is committed to providing our customers with a complete range of storage solutions, and this acquisition will significantly enhance our flash storage offerings to supplement our existing portfolio,” said Steve Luczo, Seagate chairman and CEO in a press release, touting LSI’s broad PCIe flash portfolio and “best-in-class” SandForce controllers.
The deal should close in Q3 this year, and Seagate expects the move to generate as much as $150 million in revenue in 2015.
“Seagate is committed to providing our customers with a complete range of storage solutions, and this acquisition will significantly enhance our flash storage offerings to supplement our existing portfolio,” said Steve Luczo, Seagate chairman and CEO in a press release, touting LSI’s broad PCIe flash portfolio and “best-in-class” SandForce controllers.
The deal should close in Q3 this year, and Seagate expects the move to generate as much as $150 million in revenue in 2015.
