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Stock Market & Financial Investment News

News Breaks
May 29, 2014
07:50 EDTSTX, AVGOSeagate to acquire LSI's flash businesses from Avago for $450M in cash
Seagate Technology (STX) and Avago Technologies Limited (AVGO) announced that they have entered into a definitive asset purchase agreement under which Seagate will acquire the assets of LSIís Accelerated Solutions Division and Flash Components Division from Avago for $450M in cash. In fiscal 2015, Seagate would expect the combination of its enterprise SSD product line and these SSD Controller families to generate revenues of at least $150M and be slightly accretive to the company gross margin with operating margin headwind of $30M-$40M. As Seagate drives operational synergies and leverages its SSD technology into its product portfolio, the company would expect the operating margin contribution from its SSD business to be neutral to positive in fiscal 2016 and beyond. The transaction is expected to close in the third quarter of calendar year 2014, subject to the satisfaction of customary closing conditions and the receipt of certain regulatory approvals, including those required by the Hart-Scott-Rodino Antitrust Improvements Act.
News For STX;AVGO From The Last 14 Days
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November 19, 2014
07:40 EDTSTXUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 19 at 10:45 am; not all company presentations may be webcasted.Webcast Link
November 18, 2014
08:02 EDTSTXSeagate announces reseller agreement with SGI
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November 17, 2014
08:48 EDTAVGOSkyworks, Avago, and RF Micro Devices recommended at BofA/Merrill
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November 10, 2014
15:55 EDTSTXNeedham to hold a conference
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07:56 EDTSTXSeagate management to meet with Deutsche Bank
Meeting to be held in New York on November 10 hosted by Deutsche Bank.

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