On Air Now

Current Show

Jerry Bader   9:00 AM - 11:00 AM

Call The Jerry Bader Show at 1-888-455-1360

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
53° Feels Like: 53°
Wind: SSE 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

AM Fog/PM Sun 73°

Tonight

Partly Cloudy 49°

Tomorrow

Mostly Cloudy 71°

Alerts

Avago to sell LSI's Axxia Networking Business to Intel for $650 million

(Reuters) - Avago Technologies Ltd said it agreed to sell LSI's Axxia Networking Business to chipmaker Intel Corp for $650 million in cash.

The Axxia business mainly includes networking and infrastructure products for wireless networks and enterprise gateways.

Avago bought LSI in December last year for $6.6 billion, and has been divesting units as it seeks to counter volatility in its main wireless business and focus on the fast-growing storage chip market.

The company, which designs and develops analog semiconductors and was once part of Hewlett-Packard Co , said in May it would sell LSI's flash storage business to hard drive maker Seagate Technology Plc for $450 million in cash.

The companies said the deal is expected to close in the fourth calendar quarter of 2014.

(Reporting by Ramkumar Iyer in Bangalore; Editing by Lisa Shumaker)

Comments