intel ceo bob swan

Intel is buying Barefoot Networks, a Silicon Valley startup with over $150 million in funding. Terms of the deal were not disclosed.
Barefoot Networks sells networking equipment, with its main differentiator being that developers can write code for its hardware that runs directly on the processor — a technical, but important, difference that allows for more customization than you often find on Cisco or Broadcom gear.
The deal comes as Intel faces new challenges, as its data center revenues recently faltered for the first time in a long time.
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Intel is acquiring Barefoot Networks, a Silicon Valley startup that had raised over $150 million from giants like Google, Dell Technologies Capital, Alibaba, and Goldman Sachs.

Terms of the deal weren’t disclosed, but Intel says that Dr. Craig Barratt, the CEO, and his team will be joining the chip giant after the deal closes, which it expects will happen in the third quarter of 2019.

“Upon close, the addition of Barefoot Networks will support our focus on end-to-end cloud networking and infrastructure leadership, and will allow Intel to continue to deliver on new workloads, experiences and capabilities for our data center customers,” Intel …read more

Source:: Businessinsider – Finance


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