LSI Logic will acquire Velio Communications, a start-up developing high-end networking silicon, for $20 million in cash. Velio supplies high-speed interconnect and switch fabric application specific standard products (ASSPs) to network systems companies. The product portfolio includes high-bandwidth data switch fabric, TDM STS-1 switch fabric and related SerDes devices, high-performance interconnect for SAN and engineering services. Velio is based in Palo Alto, California.
LSI Logic also announced the acquisition of the assets of privately held CrossLayer Networks, a provider of Gigabit Ethernet switch ASSPs. CrossLayer’s highly integrated solution complements LSI Logic’s existing 10/100 Ethernet Switching solutions targeted for Desktop Gigabit connectivity and networking. Financial terms of the CrossLayer acquisition were not disclosed. http://www.lsilogic.com
- In December 2003, Rambus agreed to acquire certain high speed signaling assets from Velio, a start-up based in Milpitas, California. The deal, which was valued at under $13 million, includes related Velio’s patent portfolio, the existing Velio licensing business, and a number of Velio personnel. Rambus said that by adding Velio’s high-speed signaling technologies to its serial interface offerings, it would accelerate its ability to deliver advanced chip-to-chip interface solutions.
- Velio Communications had raised over $95 million in three rounds of funding since its inception in October 2000. Investors included Redpoint Ventures, Sequoia Capital, Institutional Venture Partners, Global Catalyst Partners, Capital Research Group and HarbourVest Partners.