We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Seagate spokesman Brian Ziel said in an email that the two divisions do have “a small number of employees” in Fort Collins and Colorado Springs. But he said it’s “too early to speculate” when asked whether jobs would be added or subtracted or whether any would be moved to Seagate’s operations in Longmont.
Seagate (Nasdaq: STX) announced last week that it was paying Avago (Nasdaq: AVGO) $450 million in cash to purchase LSI’s Accelerated Solutions Division and Flash Components Division. The deal is expected to close in the third quarter of this year.
Last month, semiconductor company Avago – with co-headquarters in San Jose, Calif., and Singapore and a major presence in Fort Collins – closed on the $6.6 billion purchase of San Jose-based LSI, which also has an office in Fort Collins.
Officials for neither Avago nor LSI could be reached Monday.
LSI’s Flash Components Division was formed out of the 2012 acquisition of Milpitas, Calif.-based SandForce, and makes flash memory controllers for solid-state drives. The Accelerate Solutions Division was formed last year, making flash cards for the cloud and hyperscale markets.
Ziel said the two divisions’ teams are spread throughout the world, primarily in the United States and Asia but did not disclose the number of employees in each.