MILPITAS, Calif., Oct. 24 /PRNewswire-FirstCall/ -- 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.
About LSI LSI Corporation (NYSE:LSI) is a leading provider of innovative silicon, systems and software technologies that enable products which seamlessly bring people, information and digital content together. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage and Networking markets. More information is available at http://www.lsi.com/.
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trademarks of their respective companies. DATASOURCE: LSI Corporation CONTACT: Media, Bob Guenther, +1-610-712-1514, , or Investors, Sujal Shah, +1-610-712-5471, , both of LSI Corporation Web site: http://www.lsi.com/
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