Monday, February 23, 2009

Exar Buys Hifn

Fremont-based Exar is buying Los Gatos-based Hifn, a developer of networking and security processors and cards, Exar said today. According to the firms, Exar will acquire all of the outstanding shares of Hifn's common stock, for either 0.3529 shares of Exar common stock and $1.60 in cash, or $4.00 in cash. According to the Exar, it believes the move will allow it to "achieve our strategic and financial objectives more quickly." Both firms provide semiconductors to such customers as Cisco Systems, Hauwei Technologies, HP, and Alcatel-Lucent.