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 (NYSE/Frankfurt: IFX)

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