Mellanox Technologies acquires Kotura
Aug 16, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
Mellanox(R) Technologies, Ltd. (Mellanox Technologies, Inc.), an Israel-based supplier of end-to-end InfiniBand and Ethernet interconnect solutions and services for servers and storage, has acquired Kotura, Inc., a US-based developer of advanced silicon photonics optical interconnect technology for high-speed networking applications, for approximately $82 million in cash.
Announcement (May 15, 2013):
Mellanox has signed a definitive agreement to acquire Kotura for approximately $82 million in cash.
Earlier, Kotura had secured venture funding from ARCH Venture Partners, Fuse Capital (formerly Velocity Interactive Group; ComVentures), GF Private Equity Group, LLC, Rockley Ventures, and Viterbi Group, LLC.
The terms of the transaction have been unanimously approved by both the Mellanox and Kotura boards of directors.
J.P. Morgan is acting as financial adviser and Latham & Watkins LLP is acting as legal advisor to Mellanox, while Mooreland Partners LLC is acting as financial adviser to Kotura.
The transaction is expected to close in the second half of 2013.
Deal Value (US$ Million) 82
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Completed: 2013-08-15
Target (Company) Kotura, Inc.
Acquirer (Company) Mellanox(R) Technologies, Ltd.
According to Mellanox, "the acquisition will expand its ability to deliver high-speed networks with next generation optical connectivity, allowing data center customers to meet the demand of performance, Web 2.0, cloud, data center, database, financial services and storage applications."
The acquisition will also enhance Mellanox's competitiveness and its position as a provider of high-performance, end-to-end interconnect solutions for servers and storage systems.
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