Report: LSI Looking to Acquire StoreAge For $55M

LSI Logic is reportedly looking to acquire Irvine-based StoreAge, a provider of storage software, according to a report in Israeli newspaper Globes. According to a report in Globes, LSI is looking to pay $55M for StoreAge, which develops storage virtualization software used in enterprise storage area networks. The newspaper reports that when the deal closes, StoreAge's operations in Israel will become LSI's R&D center in Israel. StoreAge maintains its headquarters in Irvine but does the bulk of its R&D in Israel.