Costa Mesa-based Emulex Corp. said Tuesday it’s buying Roseville-based Sierra Logic Inc. for about $180 million in cash, assumed debt and employee stock programs.
Like Emulex, Sierra makes chips and circuit boards used to link computers on data storage networks. The company was started in 2001 and has raised about $30 million in venture funding.
The deal is set to close at the end of September.
Emulex said it expects to incur as yet unknown charges from the acquisition in its fiscal year that started in July. The company said it expects Sierra to add $8 million to $10 million in sales during the quarter ending in December.
Sierra had sales of $15 million last year. The company has about 70 workers in Northern California.
Emulex’s last acquisition was in 2003, when it paid $310 million for Bothell, Wash.-based Vixel Corp. The buy broadened Emulex beyond its core product, host bus adapters.
The Sierra buy “builds upon our prior acquisition of embedded switch supplier, Vixel,” Chief Executive Paul Folino said.
