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LSI Corporation Orleansstr. 4 81669 München, Germany https://www.lsi.com
Contact Ms Elke Haan +49 8142 448950
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LSI Corporation

LSI to Sell External Storage Systems Business to NetApp for $480 Million

Board Authorizes New $750 Million Stock Repurchase Program

(PresseBox) (Milpitas, Calif., )
LSI Corporation (NYSE: LSI) today announced that it has signed a definitive agreement to sell its external storage systems business to NetApp, Inc. (NASDAQ: NTAP) for $480 million in cash. The company also announced today that its board of directors has authorized a new stock repurchase program of up to $750 million.

The company is emerging from a multi-year investment cycle which has significantly increased the opportunities and potential of its core semiconductor business. The strategic decision to divest the external storage systems business was based on the company's expectation that long-term shareholder value can be maximized by becoming a oxsn-vlea odvtektzfigga mqugvfu.

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.