QLogic Acquired By Cavium For $1.36 Billion

Aliso Viejo-based QLogic is being acquired by San Jose-based Cavium, in a deal worth $1.36 billion, the two said Wednesday afternoon. According to the two, they are in a definitive agreement where Cavium will pay approximately $15.50 per share for QLogic, split between $11.00 per share in cash and 0.098 share of Cavium common stock. QLogic is a manufacturer of storage and server networking hardware and other products; Cavium is a developer of network, wired, wireless, and other network processing semiconductors. The deal has an enterprise value of approximately $1 billion, after accounting for the $355M in cash that QLogic has on its balance sheet.