Vitesse Semiconductor Corp. completed the $63 million sale of a portion of its storage products business. The Camarillo-based company’s serial attached, serial attached expander product segments and enclosure and baseboard management devices were acquired by Maxim Integrated Products Inc. By discontinuing the storage products division, Vitesse anticipates cutting costs by $2.5 million per quarter starting with the quarter ending March 31, 2008. The company will concentrate on its core networking and Ethernet IC market segments, said CEO Christopher Gardner. “By capitalizing on our strong competitive advantages and utilizing all of our resources advanced products, technical experts, and stable financials we are able to support a sustainable and growing business,” Gardner said.
