SAN JOSE, Calif., Aug. 16, 2016 /PRNewswire/ -- Cavium, Inc.
(NASDAQ: CAVM) ("Cavium"), a leading provider of semiconductor
products that enable intelligent processing for enterprise, data
center, cloud, wired and wireless networking,
today announced that Cavium had completed its acquisition
of QLogic Corp. (NASDAQ: QLGC) ("QLogic"), a leading supplier
of high performance networking infrastructure solutions.
After the successful completion of an exchange offer for all
outstanding shares of QLogic, a wholly owned subsidiary of Cavium
has been merged with QLogic, with QLogic as the surviving
corporation and becoming a wholly owned subsidiary of Cavium.
At the effective time of the merger, each outstanding share of
QLogic common stock (other than shares directly owned by QLogic and
its subsidiaries, or Cavium and its subsidiaries) was converted
into the right to receive $11.00 per
share in cash and 0.098 shares of Cavium common stock, without
interest and less any applicable withholding taxes, which is the
same price that was paid in the exchange offer. Under Section
251(h) of the General Corporation Law of the State of Delaware, no vote of QLogic's
stockholders was required to consummate the merger. QLogic shares
will cease to be traded on the NASDAQ Global Select Market.
About Cavium
Cavium is a leading provider of highly integrated semiconductor
products that enable intelligent processing in enterprise, data
center, cloud, wired and wireless service provider applications.
Cavium offers a broad portfolio of integrated, software compatible
processors ranging in performance up to 100 Gbps that
enable secure, intelligent functionality in enterprise, data
center, broadband and access & service provider equipment.
Cavium's processors are supported by ecosystem partners that
provide operating systems, tool support, reference designs and
other services. Cavium's principal offices are in San Jose, California with design team
locations in California,
Massachusetts, India, and China. For more information, please
visit: http://www.Cavium.com.
All rights reserved. © Cavium, Inc. 2016.
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SOURCE Cavium, Inc.
