Exar Corporation Closes Galazar Networks Acquisition

FREMONT, Calif., June 17 /PRNewswire-FirstCall/ -- Exar Corporation (Nasdaq: EXAR) announced today the completion of the acquisition of Galazar Networks Inc., a fabless semiconductor company based in Ottawa, Canada. Galazar Networks has a broad set of silicon and software products targeting the rapidly emerging packet-based telecom infrastructure. They offer a variety of solutions for transporting Ethernet and TDM traffic over SONET/SDH, PDH, and OTN networks. Galazar Networks will be a wholly-owned subsidiary of Exar.