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Cortina Systems Acquires Intel's Optical-Networking Components Business

Cortina has purchased a 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 (FEC) framers, and T1/E1 line interface products.

Cortina also announced that, concurrent with the acquisition, it has closed a funding round led by a new investor, Institutional Venture Partners (IVP), along with other new investors Alloy Ventures, Bridgescale Partners, Doll Capital Management (DCM) 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.

"We're honing Intel's focus in the communications and embedded market 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."


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