MILPITAS, Calif. (AP) — Semiconductor maker LSI Corp. said Wednesday its third-quarter profits rose 25 percent as surging sales of its storage and networking chips boosted revenues.
The company reported earnings at the same time it announced a deal to acquire privately held SandForce Inc., a provider of flash storage processors, for $322 million cash. The agreement also calls for LSI to assume about $48 million of unvested stock options and restricted shares held by SandForce employees.
Both companies are based in Milpitas.
LSI's net income for the three months ended Oct. 2 was $29.3 million, or 5 cents per share, compared with $23.4 million or 4 cents a share, a year …






