Chip Shot: Intel Agrees to Buy LSI’s Axxia Networking Business from Avago

Avago Technologies Limited and Intel today announced the signing of a definitive agreement for Intel to acquire LSI’s Axxia Networking Business and related assets for $650 million in cash. Adding the Axxia Networking Business capabilities to Intel’s portfolio will help accelerate the company’s strategy to become a leader in platform solutions for the network infrastructure. By providing a comprehensive product portfolio, Intel aims to help operators create a more efficient, scalable and flexible network to keep up with future bandwidth demands while also allowing for fast provisioning of new services. Read more in The Data Stack.