LSI Logic Corp has agreed to acquire Fremont, California-based Seeq Technology Inc, the data communications chip company , for $100m in stock. LSI wants Seeq, whose customers include 3Com Corp, Cisco Systems Inc, Intel Corp, Northern Telecom Ltd and Lucent Technologies Inc, to boost its own networking division, one of its faster growing divisions. Seeq’s products are typically used in hubs, routers, switches and network interface cards. Seeq’s revenues were $28.1m in 1998. The acquisition is likely to be completed in the second quarter.
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