Avago Technologies agreed to acquire Emulex Corporation (NYSE:ELX) for approximately $606 million in cash.
Emulex, which is based in Costa Mesa, California, is a supplier of network connectivity, monitoring and management solutions. The Emulex portfolio includes Fibre Channel and 10GbE network connectivity that are designed into server and storage solutions from leading OEMs and ODMs worldwide. Through its Endace division, Emulex supplies network monitoring/visibility/recording.
“Emulex’s connectivity business fits very well with Avago’s existing portfolio serving the enterprise storage end market,” stated Hock Tan, President and Chief Executive Officer of Avago. “We are excited to welcome the Emulex team to Avago.”
“This combination represents a great opportunity for Emulex and its employees to build upon our history of delivering leading-edge solutions to our customers, while providing immediate value to our stockholders,” said Jeffrey Benck, President and Chief Executive Officer of Emulex. “Our leading portfolio is a strong complement to Avago’s offerings and capabilities, accelerating our strategy to support next generation server and storage architectures.”
- In 2014, Avago acquired LSI Corporation in a deal valued at $6.6 billion.
