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NetApp To Buy LSI Storage Unit For $480M
LSI will sell its external storage systems business to storage and data management solutions provider, NetApp, for $480 million in cash.
LSIwill sell its external storage systems business to storage and data management solutions provider,NetApp, for $480 million in cash. As per the agreement, the LSI RAID adapter business, which developsLSI MegaRAIDand3warestorage controllers and software for direct-attached storage environments, will remain with LSI.
LSI external storage systems employees are expected to join NetApp after the closing of the deal. The board of directors of the company has also approved a new $750 million stock repurchase program.
Click here for the release fromPR Newswire.