Thursday, April 2, 2009

Exar Completes Hifn Acquisition

Exar closed the previously announced acquisition of hi/fn. Al Sisto, the former chief executive officer and chairman of the board of directors of Hifn, has joined Exar's board of directors. It is expected that Hifn's personnel and operations will be relocated during the second calendar quarter of 2009.

Hifn (NASDAQ: HIFN), which is based in Los Gatos, California, supplies a line of Applied Services Processors (ASPs) to network OEMs. Exar (Nasdaq: EXAR), which is based in Milpitas, California, said the acquisition brings valuable intellectual property related to Ethernet, embedded processors, network security, compression, deduplication, RAID, packet processing architecture and SoC design methodology.