ServerEngines Acquired By Emulex

Sunnyvale-based ServerEngines, a fabless semiconductor firm developing 10Gb/sec Ethernet chips, has been acquired by Emulex Corp., Emulex announced Monday afternoon. Emulex said it will pay $78M in cash plus eight million shares of its common stock for ServerEngines, or approximately $159M in total. Emulex said the buy would strengthen its leadership position in the network convergence market. ServerEngines has approximately 170 employees.