PLX Divests 10GBase-T Business, Reduces Expenses, Focuses on Enterprise PCI Express
PLX Technology (NASDAQ: PLXT), a leading global supplier of high-speed connectivity solutions enabling emerging data center architectures, today announced steps taken to reduce operational costs by divesting its TeraPHY® 10GBase-T team and associated products. PLX has signed a definitive agreement with Aquantia, a leader in high speed Ethernet connectivity solutions, who will take control of the PLX® 10GBase-T products, customer pipeline and support.
While reducing overall expenses, PLX's core research and development center in Sunnyvale will remain focused on the expanding opportunities in the fast-growing data center and cloud services markets with its industry-leading PCI Express portfolio.
"This transaction was a great opportunity for PLX to streamline its business so we can focus on our core PCI Express solutions," said Ralph Schmitt, president and CEO of PLX. "Aquantia offers compelling, complementary 10 Gigabit Ethernet products, which are an ideal match for placing our products, much of our team and customer activity. It was imperative that we found the right place for our customers to be supported, and no one knows this market and technology better than Aquantia.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.