Intel said Wednesday that it had agreed to pay $650 million to acquire LSI’s Axxia network technology business from Avago Technologies. Singapore-based Avago purchased LSI late last year $6.6 billion, and has been divesting of some of the company’s assets during the course of the year. Avago recently sold LSI’s storage assets (the prize amongst these assets was the flash storage technology) to Seagate for $450 million. Axxia’s networking business produces SoCs that power switches, line cards and hubs which are compatible with both PowerPC and ARM architecture. Axxia also has a portfolio of wireless networking IP for networked devices, as well as routers and
