Thursday , September 29 2022

US chip giant Xylink said that Israeli manufacturer of semiconductor Mellanok – Business



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US chip giant Xylink seeks purchase of Israeli manufacturer of semiconductor Mellanok, CNBC reported on Wednesday, citing unnamed sources.

CNBC said that Xylink has kept Barclais to advise him after Mellanoco approached the offer. If a transaction occurs, it is expected to be released in December, sources told the network, although others said the agreement was not inevitable.

Mellanok shares, traded on Nasdaq, rose more than 4% on Wednesday, extended on Thursday and traded by 0.4% to $ 93.10 in the daytime local weather in New York. If an agreement arrives, the takeover price could reach $ 100, valuing Mellanok at about $ 5.5 billion, listing two sources for CNBC.

Xylink and Barclais refused a comment.

Mellanok, whose market consumption is close to $ 5 billion, sells network hardware used in data centers, including Ethernet switches and cables for connecting switches to other hardware. The purchase of an Israeli company would give Xilinko a wider product for sale in the data market.

Two weeks ago, CNBC announced that Mellanok was put up for sale and hired a financial adviser after unnamed customers expressed their interest. Piper Jaffray analysts named Xylink, Intel and Broadcom as potential customers.

CEO Mellanok Eial Valdman.
Ofer Vaknin

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