PLX Technology
| Company type | Public |
|---|---|
| Industry | Semiconductor |
| Founded | 1986 |
| Founder | Mike Salameh |
| Defunct | 2014-08-12 |
| Fate | Acquired by Broadcom Inc. |
| Headquarters | United States |
Key people | Ralph Schmitt (President and CEO from 2008) |
| Products | Integrated circuits focusing on PCI Express and Ethernet solutions |
| Parent | Broadcom Inc. |
PLX Technology was a producer of integrated circuits with a focus on PCI Express and Ethernet solutions. The company became part of Broadcom Inc. following its acquisition on August 12, 2014.
History
Established in 1986 by Mike Salameh, PLX Technology went public amid the dot-com bubble on April 7, 1999, experiencing a remarkable 426% increase in its stock value by July of the same year.
In 2000, the company broadened its footprint by inaugurating an office in Austin, Texas. Growth was further fueled through several acquisitions: HiNT in 2003 for $12.7 million, NetChip Technology in 2004, Oxford Semiconductor in 2009—acquired via stock and a $14.2 million promissory note—and Teranetics in 2010, purchased for $36 million.
PLX introduced pioneering products such as PCIe switches equipped with integrated direct memory access engines in 2008 and progressed technologically by developing a 40 nm process design at TSMC by 2009. By January 2010, the company had shipped over one million network attached storage units, indicating significant market penetration.
A leadership change occurred in October 2008 when Ralph Schmitt succeeded founder Mike Salameh as president and CEO, signaling a new strategic direction.
In 2011, PLX divested its development facility located in Abingdon-on-Thames, along with associated intellectual property rights and personnel, transferring them to OCZ. An attempted acquisition by Integrated Device Technology in 2012 was discontinued due to regulatory obstacles posed by the Federal Trade Commission. That year also saw PLX divest its 10GBASE-T technology assets to Aquantia Corporation.
Ultimately, the company’s product lineup and business strategy attracted Broadcom Inc., which finalized the acquisition in August 2014, integrating PLX Technology into one of the leading entities within the semiconductor sector.