NetChip Technology

PLX Technology

Founded	1986 (1986)
Founder	Mike Salameh
Defunct	Template:End date and age
Fate	Acquired by Broadcom Inc.
Headquarters	Sunnyvale, California

PLX Technology specialized in producing integrated circuits with a focus on PCI Express and Ethernet solutions. The company became part of Broadcom Inc. (previously Avago Technologies) following its acquisition on August 12, 2014.

History

Established in 1986 by Mike Salameh, PLX Technology entered the public market on April 7, 1999, amid the dot-com bubble. By July of that year, its stock value had surged by 426% relative to the initial offering price.

In July 2000, the company broadened its footprint by inaugurating an office in Austin, Texas. PLX pursued expansion through acquisitions, including the purchase of HiNT in May 2003 for $12.7 million paid in cash and stock, followed by acquiring NetChip Technology in May 2004.

August 2008 marked the introduction of three PCIe switch products featuring integrated direct memory access engines, which enhanced their functional capabilities. Later that year in October, Ralph Schmitt succeeded co-founder Salameh as president and CEO.

The acquisition of Oxford Semiconductor occurred in January 2009, involving a stock transaction plus a $14.2 million promissory note. Subsequently, new PCIe switch products were launched in April 2009, and by November, PLX completed development on advanced 40 nm process technology at TSMC.

By January 2010, the shipment of the one-millionth network attached storage device underscored the company's market penetration.

PLX strengthened its position in the 10 Gigabit Ethernet sector by acquiring Teranetics for $36 million in September 2010. The following year, it divested its Abingdon-on-Thames development facility along with associated intellectual property licenses to OCZ.

In April 2012, Integrated Device Technology announced intentions to acquire PLX; however, regulatory obstacles led to the termination of this agreement in December. That September, PLX sold its 10GBASE-T technology assets to Aquantia Corporation.

Ultimately, the company's strategic evolution concluded with its acquisition by Broadcom Inc. on August 12, 2014.