Exar acquires Altior

The transaction, expected to close on March 22, 2013, includes $5.0 million in initial consideration to be paid in a combination of cash and stock and a three-year earn-out against net revenue contributed by Altior. "Altior brings new customers and new use cases to the leading position Exar has established in data compression. The success of our data compression business is evident in the growth and profitability we have generated in the first three quarters of fiscal year 2013. Our strength in database compression with the DX1845 series compression cards will be complemented by the addition of Altior's layered file system translation and plug-and-play operation. The AltraFlex cards and CeDeFS software will expand our opportunity in big data and is expected to increase our penetration and growth in this vibrant market," commented Exar President and CEO Louis DiNardo. "The competency of the Altior team, especially in the area of system software, coupled with the hardware and software competency that we have demonstrated will enhance Exar's position as a leader in data management solutions," concluded Mr. DiNardo. Ramana Jampala, CEO of Altior noted, "Exar has built a strong position and a growth business in big data management. Our CeDeFS technology enables compression integration into current applications seamlessly. The solution, when combined with the state-of-the-art Exar hardware compression acceleration, will reduce the disk space, storage I/O barrier, power consumption and overall system cost significantly," remarked Mr. Jampala.