Cortina Systems Purchases Intel's Optical-Networking Components Business.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif. -- Cortina cor`ti´na n. 1. (Biology) a cobwebby remnant of the partial veil which in some mature mushrooms hang from the edges of the cap. Noun 1. Systems Inc. and Intel Corporation (company) Intel Corporation - A US microelectronics manufacturer. They produced the Intel 4004, Intel 8080, Intel 8086, Intel 80186, Intel 80286, Intel 80386, Intel 486 and Pentium microprocessor families as well as many other integrated circuits and personal computer networking today announced that they have completed the sale of product lines and associated assets of Intel's optical-networking components business to Cortina. Cortina has emerged as a leading supplier of advanced communications semiconductor solutions for the carrier infrastructure market segment. The acquisition will give Cortina a large portfolio of enterprise and infrastructure communications products and will position it to become a leading communications semiconductor company. The sale will enable Intel to focus its investments on its core communications and embedded businesses, including Intel(R) Architecture and network processors, modular communications platforms and optical modules. The transaction closed Friday after completing regulatory review. Cortina has purchased a broad selection of Intel's Ethernet Media Access Controllers (MACs) and Physical Layer Devices (PHYs) portfolio, and its entire portfolio Transport and Service Framers, Optical transport Forward Error Correction A communications technique that can correct bad data on the receiving end. Before transmission, the data are processed through an algorithm that adds extra bits for error correction. If the transmitted message is received in error, the correction bits are used to repair it. (FEC See forward error correction. FEC - Forward Error Correction ) framers, and T1/E1 line interface products. The purchase expands Cortina's product portfolio to provide a more complete offering to current Cortina and Intel customers. Cortina plans to continue to work closely with Intel as an active member of the Intel(R) Communications Alliance. Cortina also announced that, concurrent with the acquisition, it has closed a funding round led by a new investor, Institutional Venture Partners (IVP IVP abbr. intravenous pyelogram IVP (Intravenous pyelogram) The use of a dye, injected into the veins, used to locate kidney stones. Also used to determine the anatomy of the urinary system. ), along with other new investors Alloy Ventures, Bridgescale Partners, DCM DCM abbr. Distinguished Conduct Medal - Doll Capital Management and Sofinnova Ventures. Existing Cortina investors Canaan Partners and Morgenthaler Ventures also led the round, and all other existing venture investors participated. As part of the transaction, and in addition to an undisclosed amount of cash, Intel received a minority equity position in Cortina. Additional financial terms are not being disclosed. "This acquisition positions Cortina to become the leading pure-play communications semiconductor company," said Cortina CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Amir Nayyerhabibi. "It greatly broadens our offering to give Cortina a comprehensive portfolio of products for network infrastructure applications while maintaining our reputation for leading-edge technology and outstanding customer service. The substantial customer overlap was a key driver for this acquisition, and customers support our decision to bring these products together under the Cortina brand." "We're honing Intel's focus in the communications and embedded market Refers to custom-designed, computer-based devices and applications that perform a fixed set of tasks. It may refer to cellphones and other handhelds, network appliances (routers, access points, modems) and myriad consumer electronics products. segments to align with our core businesses," said Bill Chatwell, general manager of Intel's Optical-Networking Components Division. "The optical-networking components segment remains a strong market opportunity, and we believe this business and its assets are an optimal fit for Cortina as it grows the business while maintaining customer commitments." Intel's optical-networking components business includes employees involved in a variety of functions, including engineering, operations and marketing. Cortina has extended offers of employment to a significant number of these employees. The two companies will be working together during the coming months to complete a smooth transition of the business in order to continue to offer high-quality service and support to customers. About Intel Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at www.intel.com/pressroom. About Cortina Systems Cortina Systems is driving the evolution of multi-service carrier and enterprise networks with advanced analog and digital communications Transmitting text, voice and video in binary form. See communications. ICs. Founded in 2001, Cortina is funded by leading private venture capital organizations and is based in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. . Additional information about Cortina is available at www.cortina-systems.com. Cortina Systems and the Cortina Systems logo are trademarks of Cortina Systems Inc. Intel is a registered trademark of Intel Corporation or its subsidiaries in the United States and other countries. *Other names and brands may be claimed as the property of others. |
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