LSI Logic Storage Systems to become Engenio Information Technologies, Inc.
Company takes additional steps as it progresses toward initial public offering.
MILPITAS, CA, May 6, 2004 - LSI Logic Storage Systems, Inc. today announced the new name under which it intends to operate and an expansion of its board of directors. Additionally, the company announced that it has filed an application for listing with the New York Stock Exchange, Inc. to trade under the ticker symbol NGE. These steps were taken in preparation for the previously announced initial public offering and separation from its parent company, LSI Logic Corporation (NYSE: LSI). The initial public offering is anticipated to be completed in the first half of 2004.
We are proud to have chosen Engenio Information Technologies to represent us as we become an independent company, said Thomas Georgens, president and CEO, LSI Logic Storage Systems, Inc. Engenio reflects appropriately upon our heritage of innovation in information storage technology while offering a strong new identity to serve us well in the future.
The board of directors of the company has also been expanded. In addition to chairman Wilfred J. Corrigan, the board now includes president and CEO Thomas Georgens; Charles A. Haggerty, CEO of Le Conte Associates, LLC; R. Douglas Norby, CFO and senior vice president of Tessera Technologies, Inc.; Matthew J. ORourke, business consultant and retired partner of Price Waterhouse LLP ;Gregorio Reyes Sr., management consultant and former CEO of Sunward Technologies; and Larry W. Sonsini, chairman and CEO of Wilson Sonsini Goodrich & Rosati.
The offering will only be made by means of a prospectus. When available, a copy of the preliminary prospectus may be obtained from Morgan Stanley, Attn: Prospectus Department, 1585 Broadway, New York, NY 10036-8200, or from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, NY 10004.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Safe Harbor for Forward Looking Statements
LSI Logic Corporation (NYSE: LSI) is a leading designer and manufacturer of communications, consumer and storage semiconductors for applications that access, interconnect and store data, voice and video. In addition, the company supplies storage network solutions for the enterprise. LSI Logic is headquartered at 1621 Barber Lane, Milpitas, CA 95035. www.lsilogic.com
LSI Logic Storage Systems, Inc., a subsidiary of LSI Logic Corporation, is a provider of modular, high-performance, disk storage systems and sub-assemblies to server and storage OEMs. Our products are offered as complete storage systems, or as sub-assemblies, configured from modular components, including storage controller modules, disk drive enclosure modules and related storage management software. Our customers include IBM, StorageTek, the Teradata division of NCR, and SGI.