Exar Closed Neterion Acquisition

Exar Corporation it has closed the previously announced acquisition of Neterion, Inc., effective March 16, 2010.  It is expected that Neterion’s personnel and operations in Sunnyvale, California and Ottawa, Ontario Canada will be relocated during the next three months.  

"We have already started working together to ensure a smooth transition for the Neterion customers and resellers," said Pete Rodriguez, Exar’s president and chief executive officer. "The sales, marketing and engineering teams are focused on not only expanding the market presence of the current X3100 family of 10 Gigabit Ethernet adapters, but on combining our technology portfolios and resources to bring to market a new generation of enhanced, secure connectivity solutions."

"Exar’s capabilities allow us to rapidly expand Neterion’s customer base and reduce development schedules for new products," said Mr. Rodriguez. "Our customers will see immediate benefit from the integration of our teams in terms of both increased support and a roadmap focused on delivering highly differentiated next generation connectivity solutions."

"The addition of Neterion to the Exar team enables a range of enhanced 10 Gigabit Ethernet solutions," said John Williams, Exar vice president of Datacom and Storage. "Exar now offers a unique set of solutions to secure data at rest and in motion, move that data securely across the network at 10 Gigabit speeds, and optimize utilization of both network and storage resources in the process.  These are among the highest priorities for today’s IT organizations."

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Exar Buys Neterion
Between $10 million and $11 million