Silicon Valley/San Jose Business Journal: LSI buys Applied Micro unit for $20M
Applied Micro Circuits Corp. said Monday it sold its its 3ware storage adapter business to LSI Corp. for approximately $20 million in cash.
Sunnyvale-based Applied Micro (NASDAQ:AMCC) said the transaction allows it to focus on the development of "highly integrated deep sub-micron integrated circuits for energy optimized packet based networks."
The transaction is expected to close in 3 to 4 weeks.
Staffing and other details about the deal with Milpitas-based LSI (NYSE:LSI) were not disclosed.
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