QLogic, a supplier of network infrastructure services, has acquired NetXen, a provider of networking and protocol processing services.
According to QLogic, it will pay approximately $21m in cash for NetXen (subject to certain closing adjustments). Both companies serve the same customers and address similar markets. This acquisition provides QLogic with complementary networking products and intellectual property.
The company said that the acquisition expands its expertise in strategic areas of technology and enables the company to address a wider range of emerging customer requirements for converged networks.
Recently, QLogic announced its financial results for the fourth quarter and fiscal year ended March 29, 2009.
It said that net revenue for the fourth quarter of fiscal 2009 was $130.5m compared to $159.7m in the same quarter last year. Revenue from Host Products, which are comprised primarily of Fibre Channel and iSCSI host bus adapters and InfiniBand host channel adapters, was $88.4m during the fourth quarter of fiscal 2009 compared to $110.3m in the same quarter last year.
Revenue from Network Products, which are comprised primarily of Fibre Channel and InfiniBand switches, was $25.1m during the fourth quarter of fiscal 2009 compared to $27.5m in the same quarter last year. Revenue from Silicon Products, which are comprised primarily of protocol chips, was $13.7m during the fourth quarter of fiscal 2009 compared to $13.9m in the same quarter last year.
QLogic is engaged in high performance networking, including adapters, switches and ASICs. It claims that leading OEMs and channel partners worldwide rely on QLogic products for their data, storage and server networking services.
Content from our partners
