Avago agrees to buy LSI for $6.6 billion

Robert Dow

Avago Technologies said Monday it agreed to buy LSI Corp. for $6.6 billion to get into the business of semiconductors that help run data centers and handle mobile Internet traffic. Avago said it will pay $11.15 a share in cash for LSI. The deal comes as the rise of cloud computing increases demand for data centers and the servers and chips needed to run them. LSI specializes in storage and networking technology for large organizations that use data centers a lot.