Data storage equipment maker NetApp Inc (NTAP.O) announced it would buy microchip maker LSI Corp's (LSI.N) Engenio external storage system business for $480 million, the latest acquisition in the red-hot sector. NetApp said it was paying cash for Engenio, which will help it win business in the rapidly growing bandwidth intensive video and high-performance computing markets. Milpitas, California-based LSI said it would put funds from the sale toward a new stock repurchase program of up to $750 million. Its shares spiked briefly as much as 2.5 percent in after-hours trading, but quickly gave back gains.
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