Vendor signs agreement to acquire assets of Infineon's Hard Disk Drive business for undisclosed sum

LSI has signed a definitive agreement to acquire the assets of the hard disk drive (HDD) business of Infineon Technologies for an undisclosed sum.

The agreement, which is expected to close within 60 days subject to regulatory conditions, will see LSI buy the assets and intellectual property of the Infineon HDD business, which includes product designs, related software, inventory and test equipment.

LSI will also enter into additional agreements with Infineon including intellectual property, design services, transition services and supply agreements.

Ruediger Stroh, general manager, storage peripherals group at LSI, said: " Through the addition of the Infineon HDD business, LSI has taken another significant step toward becoming the leading worldwide provider of silicon solutions for hard disk drive makers. We expect the acquisition to immediately accelerate revenue with a top-tier customer, Hitachi Global Storage Technologies, while enhancing our competitive position in the desktop and enterprise space.”