SandForce to be Bought by LSI

LSI, a semiconductor and software manufacturer, has announced officially that it will acquire SandForce, the famous SSD controller chip manufacturer, for $322 million in cash and $48 million in stock. Abhi Talwalkar, LSI president and chief executive officer, said, “Flash-based solutions are critical for accelerating application performance in servers, storage and client devices. Adding SandForce’s technology to LSI’s broad storage portfolio is consistent with our mission to accelerate storage and networking. The acquisition represents a significant, rapidly growing market opportunity for LSI over the next several years.” After the merger goes through typical review processes, Michael Raam will become General Manager of LSI’s newly formed Flash Components Division when the deal closes (hopefully) in Q1 of 2012. You can the press release here.