LSI to Buy AMCC Adapter Business

MILPITAS, Calif. -- LSI Corporation (NYSE: LSI) today announced that it has signed a definitive agreement to acquire the assets and certain associated intellectual property of the 3ware RAID adapter business of Applied Micro Circuits Corporation (NASDAQ: AMCC) for approximately $20 million in cash.

3ware products include SAS and SATA RAID adapters designed to offer cost-effective, high-performance, high-capacity storage solutions for a broad range of applications. 3ware adapters are sold to end users through a worldwide network of channel partners including leading storage distributors and system builders.

"The indirect channel plays an important role in delivering today’s increasingly capable, yet often complex storage solutions to customers of all sizes," said Abhi Talwalkar, LSI president and chief executive officer. "The addition of the 3ware business to the LSI storage portfolio uniquely positions us to provide an unmatched breadth of rich storage solutions coupled with the outstanding channel support needed to help channel partners maximize their effectiveness."

LSI Corp.