To close the deal at about $400m on a fully diluted equity value basis
Semiconductor firm LSI has agreed to acquire flash memory company SandForce for approximately $322m in cash and $48m by assuming stock options.
The company revealed that the overall deal will close at approximately $400m on a fully diluted equity value basis.
With this acquisition, LSI expects to gain control over a key component in the WarpDrive, and to offer the SandForce technology to customers that are designing new flash-based products of their own.
SandForce makes solid state drive (SSD) processors, or controllers for managing the flash memory chips that make up solid state hard drives and are used in iPhone and iPod.
In another big semiconductor deal this year in May, flash chips and storage cards maker SanDisk agreed to acquire Pliant Technology, a producer of SSDs for servers, for $327m.