Magnum Closes on LSI Purchase

LSI Corp. (NYSE: LSI) has completed the sale of its consumer products business to Magnum Semiconductor Inc., a Fremont, Calif.-based supplier of ICs, software and reference platforms for audio and video content. No financial terms were disclosed. Magnum has raised $52 million in VC funding 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.