LSI finalizes merger with Agere Systems

The completion of the LSI Logic Corp.-Agere Systems Inc. merger has resulted in the creation of LSI Corp. The new company will focus on providing solutions for storage, networking and consumer electronics markets.

Remarked LSI Logic president and CEO Abhi Talwalkar, "In the months since our merger announcement, we have developed detailed integration plans that should enable us to hit the ground running today as a single organization with clear leadership and goals. We have assembled a dynamic organization that blends the unique strengths of each company."

On December, LSI and Agere announced a definitive merger agreement. Shareholders of both companies approved the merger at separate meetings on March 29. The merger was finalized April 2.

The two companies have combined revenue of $3.5 billion for year-period ending Dec. 31, 2006. The new LSI operates in over 20 countries, with a workforce of 9,100 employees.