Exar Buys Neterion

Fremont-based Exar said this morning it is in a definitive agreement to acquire Sunnyvale-based Neterion, a developer of 10 Gigabit Ethernet network adapters supporting I/O virtualization. According to Exar, it will pay somewhere between $10M and $11M net of cash received for Neterion. Exar said the acquisition would complement the firm's existing solutions. Neterion was headed by Todd Oseth, and was venture backed by Menlo Ventures, VenGrowth, BDC Venture Capital, JAFCO Ventures, and Sand Hill Capital. The firm last announced a round of funding--a Series C round--worth $15M, in 2004.