American Megatrends Inc. to Sell Industry-Leading RAID Business to LSI Logic.
ATLANTA--(BUSINESS WIRE)--May 29, 2001
-- AMI agrees to sell RAID software and hardware expertise, including more than 200 employees to LSI -- The transaction is anticipated to close during the second quarter ending June 30
American Megatrends Inc. (AMI), the leader in storage and computing innovations worldwide, and LSI Logic Corporation (NYSE:LSI) today agreed to the sale of AMI's industry-leading RAID business and intellectual property, including its high-performance PCI-based RAID host adapter controllers.
According to the terms of the agreement, AMI will sell its MegaRAID software intellectual property and host adapter board product family to LSI. RAID (redundant array of independent disks) provides higher performance storage capabilities and enhanced data security by grouping hard disks into fault tolerant clusters. These boards support Fibre Channel, SCSI and other leading storage I/O standards. More than 200 AMI employees, including hardware and software engineers based in Norcross, Ga., Fremont, Calif., and other sales, service and support locations, are included in the acquisition as well.
The cash transaction is anticipated to close during LSI Logic's second quarter ending June 30. The agreement is subject to the satisfaction of customary closing conditions and regulatory approvals including the Hart-Scott-Rodino Antitrust Improvements Act.
"We are very proud that the AMI MegaRAID controller has been the number one RAID host adapter for three years in a row," said Subramonian Shankar, AMI president, chairman and co-founder. "This transaction will allow our work to be taken to even greater heights with LSI Logic's leadership and marketing capabilities. AMI will continue to focus on the development of new products, consistent with the entrepreneurial spirit that defines our company."
"This strategic acquisition will strengthen LSI Logic's product offerings for our customers in the storage components space," said John D'Errico, LSI Logic executive vice president for Storage and Internet Computing Components. "The addition of AMI's market-leading MegaRAID technology and products to LSI Logic's Fibre Channel and SCSI expertise will result in next-generation products that meet the requirements of our customer base."
Founded in 1985, American Megatrends Inc. (AMI) has dedicated its resources to providing OEMs, resellers and systems integrators with leading edge computer technologies. This privately held company, best known for its BIOS, also supplies state-of-the-art hardware, software, utilities and RAID controllers to over 55 percent of today's high-tech manufacturers. Headquartered in Atlanta, AMI has locations in the U.S. and throughout the world including London, Chennai, Munich, Seoul, Taipei and Tokyo to better serve its customers. AMI is a voting member of the Storage Networking Industry Association (SNIA). For more information on AMI, its products or services, call 1-800-U-BUY-AMI or visit www.ami.com.
About LSI Logic
LSI Logic Corporation (NYSE:LSI) is a leading designer and manufacturer of communications and storage semiconductors for applications that access, interconnect and store data, voice and video. In addition, the company supplies storage network solutions for the enterprise. LSI Logic is headquartered at 1551 McCarthy Boulevard, Milpitas, CA 95035, 866-574-5741 (within U.S.), 719-533-7679 (outside U.S.), http://www.lsilogic.com.
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|Date:||May 29, 2001|
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