Tarari, Inc., a San Diego based fabless semiconductor company, has signed a definitive agreement to be acquired by LSI Corp. (NYSE: LSI) for $85 million in cash. (See www.lsi.com for LSI's press release.) Tarari has emerged as the world leader in content processor silicon to offload and accelerate compute-intensive, complex algorithms used for content inspection in XML/Web Services, Network Security and Digital Media environments.
Tarari employees will become LSI employees and the team will remain in San Diego. Randy Smerik, CEO of Tarari, noted, "We're pleased and excited to join forces with such a well-recognized innovator and leader as LSI. Tarari's expertise is a natural complement to LSI's strengths in networking and storage silicon, systems and software. The combination will position us to deliver a richer, more scalable set of solutions to our industry-leading customers."
Bob Conn, a member of Tarari's board since February of 2006 and a Managing Director of Enterprise Partners Venture Capital, said, "LSI's agreement to acquire Tarari confirms Tarari's leadership and strategic value. The acquisition will provide a significant return for Tarari employees and investors while enabling LSI to deliver advanced services across its own portfolio of networking and storage solutions."
About Tarari, Inc.
Tarari (www.tarari.com), the leader in deep content inspection silicon, is a fabless semiconductor company headquartered in San Diego, CA that develops Content Processor chips used in XML/Web Services, Network Security and Digital Media environments. Tarari is privately held with backing from Enterprise Partners Venture Capital, Crosspoint Venture Partners, Morgan Stanley Venture Partners, Miramar Venture Partners, XMLFund and Intel Capital.
LSI Corporation is a leading provider of innovative silicon, systems and software technologies. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage, Networking and Mobility markets.
About Enterprise Partners Venture Capital
Enterprise Partners (www.epvc.com), was founded in 1985 and is the largest venture firm headquartered in Southern California, with over $1.1 billion in capital under management. Enterprise focuses on early stage and promising later stage companies across a spectrum of high tech and life sciences opportunities.