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LSI announces agreement to acquire SandForce

LSI Corporation has announced that it has signed a definitive agreement to acquire SandForce, Inc., the leading provider of flash storage processors for enterprise and client flash solutions and solid state drives. Under the agreement, LSI will pay approximately US$322 million in cash, net of cash assumed, and assume approximately US$48 million of unvested stock options and restricted shares held by SandForce employees.

The acquisition greatly enhances LSI's competitive position in the fast-growing server and storage PCIe flash adapter market, where the WarpDrive family of products from LSI already uses SandForce flash storage processors. The complementary combination of LSI’s custom capability and SandForce’s standard product offering propels LSI into an industry-leading position in the rapidly growing, high-volume flash storage processor market space for ultrabook, notebook and enterprise SSD and flash solutions.

Source: LSI Corporation

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