Exar Corporation Announces Closing of Neterion Acquisition

FREMONT, Calif., March 16 /PRNewswire-FirstCall/ -- Exar Corporation (Nasdaq: EXAR) announced today that it has closed the previously announced acquisition of Neterion Inc., effective March 16, 2010.  It is expected that Neterion's personnel and operations in Sunnyvale, California and Ottawa, Ontario Canada will be relocated during the next three months.  

"We have already started working together to ensure a smooth transition for the Neterion customers and resellers," said Pete Rodriguez, Exar's president and chief executive officer.  "The sales, marketing and engineering teams are focused on not only expanding the market presence of the current X3100 family of 10 Gigabit Ethernet adapters, but on combining our technology portfolios and resources to bring to market a new generation of enhanced, secure connectivity solutions."

"Exar's capabilities allow us to rapidly expand Neterion's customer base and reduce development schedules for new products," said Mr. Rodriguez.  "Our customers will see immediate benefit from the integration of our teams in terms of both increased support and a roadmap focused on delivering highly differentiated next generation connectivity solutions."

"The addition of Neterion to the Exar team enables a range of enhanced 10 Gigabit Ethernet solutions," said John Williams, Exar vice president of Datacom and Storage.  "Exar now offers a unique set of solutions to secure data at rest and in motion, move that data securely across the network at 10 Gigabit speeds, and optimize utilization of both network and storage resources in the process.  These are among the highest priorities for today's IT organizations."

About Exar  

Exar Corporation delivers highly differentiated silicon, software and subsystem solutions for data communication, storage, consumer and industrial applications.  For nearly 40 years, Exar's comprehensive knowledge of end-user markets along with the underlying analog, mixed signal and digital technology has enabled innovative solutions that meet the needs of the evolving connected world.   Exar's product portfolio includes power management and interface components, communications products, storage optimization solutions, network security and applied service processors.  Exar has locations worldwide providing real-time customer support to drive rapid product development.  For more information about Exar, visit: www.exar.com.

Safe Harbor Statement

The Company's statements about its future financial performance, changes in gross margins, net sales and operating expenses, resource allocation and its impact on future performance and product development initiatives, design win conversion, distribution and OEM trends, supply chain issues among others, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include global financial volatility, economic recession, and industry and market conditions, such as customer and distributor relationships; limited visibility associated with customer or distributor demand for the Company's products; the possible loss of, or decrease in orders from, an important customer; cash balances; vendor capacity, quality or throughput constraints; successful integration of acquired businesses; possible disruption in commercial activities as a consequence of terrorist activity, natural disasters, armed conflict or health issues; successful development, market acceptance and demand for the Company's products, including those for which the Company has achieved design wins; competitive factors, such as pricing or competing solutions; customer ordering patterns; accounting considerations related to impairment analyses or acquisition related issues; the level of inventories maintained at the Company's OEMs and distributors; and the Company's successful execution of internal performance plans, as well as the other risks detailed from time to time in the Company's SEC reports, including the Annual Report on Form 10-K for the year ended March 29, 2009 and the Quarterly Reports on Form 10-Q for the periods ended June 28, 2009, September 27, 2009, and December 27, 2009.

SOURCE Exar Corporation

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