Скачать или смотреть QLogic To Sell InfiniBand Assets For $125 Million In Cash to Intel

Qlogic (NASDAQ:QLGC) announced today a definitive agreement to sell the product lines and certain assets associated with its InfiniBand business to Intel (NASDAQ:INTC) for $125 million in cash.

Simon Biddiscombe, president and chief executive officer, Qlogic said, "The sale of these InfiniBand assets will benefit our shareholders by enabling us to provide better focus and greater investment in growth opportunities for the data center with our converged networking, enterprise Ethernet, and storage area networking products. After the sale, our cash position will be further strengthened and we expect the impact on earnings per share to be neutral."

The sale is expected to close within this quarter, following the satisfaction of regulatory requirements and other customary closing conditions. Expects the impact on EPS to be neutral.

QLogic is currently above its 50-day moving average (MA) of $15.01 and above its 200-day of $15.12.