LSI Corp. sold its mobility line to Infineon Technologies AG recently.

The value of the deal is 330 million euros ($444.6 million), plus a contingent performance-based payment of up to 37 million euros ($49.8 million).

As part of the transaction, approximately 700 LSI employees will be taken over by Germany's Infineon (Munich). The transaction does not include production facilities.

LSI's Mobility Products Group comprises mainly mobile radio baseband processors and platforms that complement Infineon's existing portfolio. Through the first six months of 2007, LSI's Mobility Products Group reported sales to the tune of 150 euros million ($202.1 million).

Pending the approval of the corresponding authorities, the deal is expected to be closed in the fourth calendar quarter of 2007.

By: DocMemory
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