Wednesday, August 25, 2010
Emulex Completes ServerEngines Buy
Costa Mesa-based Emulex said Wednesday afternoon that it has completed its acquisition of ServerEngines, a developer of 10Gb/s Ethernet products. The deal was worth $78M in cash, plus eight million shares of Emulex stock--or roughly, $149.6M based on the closing price of Emulex on Wednesday. Emulex said it would be adding approximately 165 employees as a result of the acquisition of ServerEngines. The deal had been announced in June. ServerEngines and Emulex had been partners since May of 2009, when Emulex announced that it would be using ServerEngines 10Gb/s Ethernet ASICs as part of its OneConnect Universal Converged Network Adapters (UCNAs). ServerEngines was based in Sunnyvale, and was founded in 2004.