(Reuters) – Avago Technologies Ltd said it agreed to sell LSIs Axxia Networking Business to chipmaker Intel Corp for $650 million in cash. The Axxia business mainly includes networking and infrastructure products for wireless networks and enterprise gateways. Avago bought LSI in December last year for $6.6 billion, and has been divesting units as it seeks to counter volatility in its main wireless business and focus on the fast-growing storage chip market. The company, which designs and develops analog semiconductors and was once part of Hewlett-Packard Co , said in May it would sell LSIs flash storage business to hard drive maker Seagate Technology Plc for $450 million in cash.
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