Storage vendors merging in $US1.7 billion stock deal

Storage vendors merging in $US1.7 billion stock deal


In a move to expand its fibre channel line of storage-area networking devices, QLogic has announced a deal to acquire Ancor Communications in a stock swap worth about $US1.7 billion.

Based in California, QLogic makes connectivity products such as fibre channel host bus adapters and had revenue of $143 million in the first nine months of its fiscal year which ended in March. Financial results for the full fiscal year are due to be announced in the next few days, the company said.

Minnesota-based Ancor develops Fibre Channel switches for storage area networks and reported sales of $13.7 million last year. QLogic said it expects to complete the acquisition by the end of September.

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