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LSI Selling Unit to Magnum Semi

Magnum Semiconductor Inc., a Fremont, Calif.-based supplier of ICs, software and reference platforms for audio and video content, has agreed to acquire the consumer products business of LSI Corp. (NYSE: LSI). No financial terms were disclosed. Magnum recently raised a $27 million Series C round, and has raised a total of $52 million since its 2005 spinout from Cirrus Logic. Shareholders include Investor Growth Capital, WK Technology Fund, KTB Ventures, Gold Hill Capital and return backers August Capital and Investcorp Technology Ventures. www.magnumsemi.com www.lsi.com