This excerpt taken from the ELX 10-K filed Sep 15, 2006.
Note 16 Subsequent Events
On August 29, 2006 the Company announced it would acquire Sierra Logic Inc. (Sierra Logic), a privately held designer of semiconductors for storage networking equipment located in Roseville, California, for up to approximately $180 million in cash, assumed debt, assumed stock options, and employee equity incentive compensation. The acquisition, if completed, solidifies the Companys embedded multi-protocol strategy in the end-to-end embedded storage components market.
If the closing conditions are fulfilled, including those requiring action by Sierra Logic, then the Company has an obligation to close the transaction and the Company becomes obligated for the approximately $180 million in cash, assumed debt, assumed stock options, and employee equity incentive compensation.
In addition, subsequent to fiscal 2006, the Company invested approximately $5.0 million in an early stage, privately held, company in the storage networking industry.