News
QLogic to Acquire Ancor Communications
- By Scott Bekker
- May 08, 2000
QLogic Corp., a supplier of Fibre Channel solutions, announced that it will acquire Ancor Communications Inc., another Fibre Channel provider. Under the terms of the agreement, QLogic will exchange 0.5275 shares of common stock for each share of Ancor common stock.
The acquisition of Ancor (www.ancor.com) will extend QLogic's (www.qlogic.com) Fibre Channel offerings. QLogic will acquire Ancor's SANbox family of Fibre Channel switch products, delivering the hardware and fabric management software necessary for SAN infrastructures.
"Through this unique merger, we will be able to provide the marketplace with complete, interoperable SAN solutions, which will greatly simplify their choice of technology partners," said Ancor chairman and CEO Ken Hendrickson. Following the closing of the merger, Hendrickson will be nominated to the QLogic board of directors.
The merger is estimated at approximately $1.7 billion. - Isaac Slepner
About the Author
Scott Bekker is editor in chief of Redmond Channel Partner magazine.