Intel Buys QLogic's InfiniBand Segment for $125 Million

By FOXBusiness

Intel (NASDAQ:INTC) purchased the InfiniBand business from QLogic (NASDAQ:QLGC) for $125 million, an effort to enhance its networking portfolio and acquire technologies that will greatly increase its computer speeds.

The company said a significant number of QLogic employees connected to InfiniBand are expected to join Intel.

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The acquisition is expected to support Intel’s vision of innovating on fabric architectures to achieve ExaFLOP/s performance by 2018. An ExaFLOP/s is a quintillion computer operations per second, which is 100 times more than today’s fastest supercomputers.

“The technology and expertise from QLogic provide important assets to provide the scalable system fabric needed to execute on this vision,” said Kirk Skaugen, the general manager of   Intel’s data center and connected systems group.

The transaction is slated to close by the end of the current quarter pending customary closing conditions.

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