Infineon picks up LSI mobile unit for $450M

Infineon Technologies AG will purchase LSI Corp.’s mobile products unit for $450 million in cash, the companies announced.
LSI merged with Agere Systems in April and cut the deal with Infineon to focus on growth in its storage systems and networking chip business, according to LSI.
Infineon will purchase LSI Mobility Products Group, which among other products designs software and chips for mobile handsets.
Infineon CEO Wolfgang Ziebart said the deal would strengthen his company’s position with major handset original equipment manufacturers.
Nokia Corp., by far the world’s largest handset vendor, recently tapped Infineon as a future source of GSM chips in a new, multi-vendor chip strategy.