Wednesday, June 15, 2016

Cavium Buys QLogic For $1.36 Billion

San Jose-based Cavium, and Aliso Viejo, California-based QLogic said Wednesday afternoon that Cavium is paying $1.36 billion for QLogic, a developer of high speed, storage and networking semiconductors and hardware. The companies said Cavium will pay approximately $15.50 per share for QLogic, split beteween $11.00 per share in cash and 0.098 share of Cavium common stock. The deal has an enterprise value of approximately $1 billion, after accounting for the $355M in cash that QLogic has on its balance sheet.