Avago Technologies Completes Acquisition of LSI Corporation

Avago Technologies Completes Acquisition of LSI Corporation

SAN JOSE, Calif. and SINGAPORE, May 6, 2014 (GLOBE NEWSWIRE) -- Avago
Technologies Limited (Nasdaq:AVGO) and LSI Corporation (Nasdaq:LSI), today
announced Avago has completed its acquisition of LSI Corporation for $11.15
per share in an all-cash transaction valued at approximately $6.6 billion. The
acquisition creates a highly diversified semiconductor market leader with
approximately $5 billion in projected annual revenues.

Avago believes the acquisition of LSI positions Avago as a leader in the
enterprise storage market. The acquisition also expands Avago's product
offerings and brings system-level expertise in its wired infrastructure
market. With increased scale and a diversified product portfolio across
multiple, attractive end markets, the combined company is strongly positioned
to capitalize on the growing opportunities created by the rapid growth in data
center IP and mobile data traffic.

In additional to the anticipated strategic benefits of the acquisition, Avago
continues to anticipate achieving annual cost savings at a run rate of $200
million by the end of the fiscal year ending November 1, 2015, the first full
fiscal year after closing. Avago's management will discuss business outlook
and provide guidance for the combined company during its second quarter
earnings conference call on Thursday, May 29, 2014. Avago will include LSI
Corporation's contribution to financial performance in the company's third
quarter earnings announcement.

In connection with the closing of the acquisition, LSI's common stock will
cease to be publicly traded on the NASDAQ Stock Market after the close of
market today.

About Avago Technologies Limited

Avago Technologies Limited is a leading designer, developer and global
supplier of a broad range of analog semiconductor devices with a focus on
III-V based products. Our product portfolio is extensive and includes
thousands of products in three primary target markets: wireless
communications, wired infrastructure and industrial & other.

About LSI Corporation

LSI Corporation designs semiconductors and software that accelerate storage
and networking in datacenters, mobile networks and client computing. Our
technology is the intelligence critical to enhanced application performance,
and is applied in solutions created in collaboration with our partners. More
information is available at www.lsi.com.

Cautionary Note Regarding Forward-Looking Statements

This announcement contains forward-looking statements, including statements by
management, within the meaning of the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. Forward-looking
statements include, but are not limited to (i) statements about the expected
benefits of the acquisition of LSI Corporation ("LSI"), (ii) the combined
organization's plans, objectives, expectations and intentions with respect to
future operations and products, (iii) the combined organization's competitive
position and opportunities, (iv) the impact of the transaction on the market
for the combined organization's products, (v) other statements identified
bywords such as "will", "expect", "intends", "believe", "anticipate",
"estimate", "plan" and similar expressions. These forward-looking statements
are based on current expectations, estimates, forecasts and projections of
future Company or industry performance, based on management's judgment,
beliefs, current trends and market conditions, and involve risks and
uncertainties that may cause actual results to differ materially from those
contained in the forward-looking statements.Accordingly, we caution you not
to place undue reliance on these statements. Particular uncertainties that
could materially affect future results include global economic conditions and
concerns; cyclicality in the semiconductor industry or in our target markets;
quarterly and annual fluctuations in operating results; loss of our
significant customers; fluctuation in the timing and volume of customer
demand; increased dependence on the volatile, wireless handset market and on
the hard disk drive market; our competitive performance and ability to
continue achieving design wins with our customers, as well as the timing of
those design wins; market acceptance of the end products into which our
products are designed; our ability to sell to new types of customers and to
keep pace with technological advances; rates of growth in our target markets;
our ability to achieve the growth prospects and synergies expected from
acquisitions we may make, including our recent acquisition of LSI; delays,
challenges and expenses associated with integrating acquired companies,
including LSI, with our existing businesses; our dependence on contract
manufacturing and outsourced supply chain and our ability to improve our cost
structure through our manufacturing outsourcing program; prolonged disruptions
of our or our contract manufacturers' manufacturing facilities or other
significant operations; our dependence on outsourced service providers for
certain key business services and their ability to execute to our
requirements; our ability to maintain or improve gross margin; our ability to
maintain tax concessions in certain jurisdictions; our ability to protect our
intellectual property and any associated increases in litigation expenses;
dependence on and risks associated with distributors of our products; any
expenses or reputational damage associated with resolving customer product and
warranty and indemnification claims; and other events and trends on a
national, regional and global scale, including those of a political, economic,
business, competitive and regulatory nature.Our Report on Form 10-Q filed on
March 13, 2014, LSI's Report on Form 10-Q filed on May 1, 2014 and Report on
Form 10-K filed on February 26, 2014 and our other filings with the Securities
and Exchange Commission, or "SEC" (which you may obtain for free at the SEC's
website at http://www.sec.gov) discuss some of the important risk factors that
may affect our business, results of operations and financial condition. We
undertake no intent or obligation to publicly update or revise any of these
forward looking statements, whether as a result of new information, future
events or otherwise, except as required by law.

CONTACT: Avago Contacts
         Bin Jiang
         Investor Relations
         +1 408 435 7400
         LSI Contacts
         David Miller
         Media Relations
         +1 408 712 7813

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