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LSI Logic to acquire IBM's Mylex business unit

Posted: 05 Jul 2002 ?? ?Print Version ?Bookmark and Share

Keywords:IBM? Mylex? Redundant Array of Independent Disks controllers? subsystems? hardware?

LSI Logic Corp. has agreed to acquire the assets of IBM Corp.'s Mylex business unit that includes Redundant Array of Independent Disks (RAID) controllers, subsystems, hardware and software technologies.

As a result of this acquisition, LSI will gain access to the expertise of IBM's Mylex business unit's hardware and software engineers and Mylex's sales channels and customer base which includes IBM, NEC, Fujitsu-Siemens, Xyratex and Eurologic.

LSI will use the purchase method of accounting for the acquisition of the assets of IBM's Mylex business unit. The cash transaction is scheduled to be completed during LSI's third quarter ending September 30 and is expected to be accretive to LSI earnings.

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