“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,” QLogic CEO Simon Biddiscombe said in a statement. “In addition, the sale of these assets to a leading technology innovator and recognized [high performance computing] leader will provide a greater investment stream in high performance fabrics for InfiniBand partners and customers.”
QLGC this morning is up 11 cents, or 0.7%, to $16.66.
