LSI sells its consumer products business
As part of the fallout of it swallowing Agere Systems earlier this year, LSI Logic is selling its consumer products business to Magnum Semiconductor. The deal is said to allow Magnum to strengthen its position as a leading provider of chips, software and platforms for consumer entertainment systems, whilst LSI will focus on the storage, networking and mobility market segments.
Abhi Talwalkar, LSI president and ceo, pictured, said: “We have determined that the best opportunity for the long term success of our consumer products business is an external one.”
Under the terms of the agreement, Magnum will purchase LSI’s DoMiNo, Domino[X] and Zevio architectures, products and related IP. Additionally, Magnum will offer employment to a ‘significant number’ of 900 LSI employees affected by the move.
Jack Guedj, Magnum’s president and ceo, said: “By taking this step, we bring in people, talent and products that will accelerate our revenue ramp and our R&D efforts. Magnum now becomes one of the leaders in audio/video chips and software for the consumer electronics market. We also gain access to the market for professional broadcast solutions that deliver content to consumers.”
