Tags QLogic

Tag: QLogic

Cavium to buy QLogic in $1.36 billion deal

Chipmaker Cavium is buying network equipment maker QLogic for about $1.36 billion. “Today’s acquisition of QLogic is highly complementary and strategic to Cavium and it creates a diversified pure-play infrastructure semiconductor leader,” said Syed Ali, Chief Executive of Cavium. The transaction is expected to close in the third quarter of calendar year 2016 pending customary closing conditions. The transaction will be funded with a combination of $220 million balance sheet cash, $750 million of committed financing, which includes $650 million of term loan and $100 million of short-term bridge debt, and $400 million in new Cavium equity. J.P. Morgan acted as financial adviser and provided a financing commitment to Cavium; Skadden, Arps, Slate, Meagher & Flom acted as Cavium's legal counsel. Qatalyst Partners acted as exclusive financial adviser to QLogic and O'Melveny & Myers acted as QLogic's legal counsel.

SAN Equipment Poised For 50% Growth In 2012

Market research firm Infonetics Research released excerpts from its recently published fourth quarter (4Q11) SAN Equipment market share and forecast report, which tracks storage area network switches and adapters. “We’re forecasting the overall storage area network equipment market to jump close to 50% in 2012 on the strength of Fibre Channel adapters, Fibre Channel over Ethernet (FCoE) converged network adapters, and FCoE-capable switches. We expect eye-popping growth in the nascent 16G Fibre Channel host bus adapters segment,” noted Sam Barnett, directing analyst for data center and cloud at Infonetics Research. SAN EQUIPMENT MARKET HIGHLIGHTS Global sales of SAN switches and adapters jumped 12.5% in 4Q11 to $1.3 billion, marking the overall market’s 7th consecutive quarterly gain FCoE-capable switch revenue grew 24% in 4Q11 over the previous quarter The emerging...