Wednesday, April 19, 2006

Solarflare, Level 5 Merge, Get VC Funding

Irvine-based Solarflare Communications and Level 5 Networks have merged. The two companies said this afternoon that the two companies are in a definitive agreement to merge and have raised new funding. The two companies said that the new company will be called Solarflare Communications, and continue to have it headquarters in Irvine. Russell Stern, current CEO of Solarflare, will head the combined company. Level 5 was a UK-based company developing high-speed server interconnect products. Solarflare has been developing 10GB Ethernet over copper connectivity. New funding in the companies Oak Investment Partners, Foundation Capital, Accel Partners, Amadeus Capital Partners, Anthem Venture Partners, IDG Ventures Europe, and Miramar Venture Partners. More information »