Milpitas, Calif. - Magnum Semiconductor, a developer of chips, software and reference platforms for recording, viewing and managing audio-video content, said that it has completed its acquisition of LSI Logic's consumer products business.

Financial terms of the deal were not disclosed.

Magnum said that it has financed the acquisition through investments from August Capital, Investcorp Technology Partners and Investor Growth Capital.

LSI first announced the sale of the business in June as part of a larger restructuring that included the elimination of 900 jobs.

With the deal, Magnum acquires the DoMiNo family of DVD and hard disk audio-video recorder processor products, as well as media processors for professional encoding, decoding and transcoding of broadcast video.

Magnum said that it has offered jobs to a "significant number" of LSI employees associated with the business.

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