LSI Completes Sale of Storage Systems Business to NetApp

"Under the terms of a definitive agreement announced on March 9, 2011, NetApp has purchased substantially all the assets of the LSI external storage systems business, which develops and delivers Engenio external storage systems products and technology to a wide range of partners that provide storage solutions to end customers.

"Proceeds from the sale are expected to fund purchases of the company’s common stock under its previously announced $750 million stock repurchase program."

Read the Full Story at LSI.com

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