Key Developments: Mellanox Technologies Ltd (MLNX.O)
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Latest Key Developments (Source: Significant Developments)
Mellanox Technologies Ltd Announces Definitive Agreement To Acquire Kotura Inc
Mellanox Technologies Ltd announced its intent to acquire privately held Kotura Inc., a innovator and developer of advanced silicon photonics optical interconnect technology for high-speed networking applications. Mellanox and Kotura have signed a definitive agreement under which Mellanox will acquire Kotura at a total cash purchase price of approximately $82 million subject to certain adjustments. The terms of the transaction have been unanimously approved by both the Mellanox and Kotura boards of directors. Full Article
Mellanox Technologies Ltd Issues Q2 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
Mellanox Technologies Ltd announced that for second quarter of 2013, it expects non-GAAP revenue to be in the range $92.5-$97.5 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $106 million for second quarter of 2013. Full Article
Kirby McInerney LLP Announces Class Action Lawsuit On Behalf Of Mellanox Technologies Ltd. Investors
Kirby McInerney LLP announced that it has been retained by an investor in Mellanox Technologies, Ltd. (Mellanox or the Company) to pursue class action claims under the federal securities laws on behalf of all persons or entities who purchased the common stock of Mellanox between April 19, 2012 and January 2, 2013 (the Class Period). Complaints filed in the United States District Court for the Southern District of New York allege that Mellanox and certain of its current and former executives issued materially false and misleading statements during the Class Period regarding the Company`s future prospects and financial performance. According to the complaint, the defendants knew, but concealed from the investing public during the Class Period, that: (1) Mellanox was experiencing a continuous influx of customer complaints regarding glitches in its InfiniBand product; (2) a competitor`s rapid development of its own InfiniBand adaptor would diminish Mellanox`s product offering and increase competition in the market for InfiniBand, in which Mellanox had maintained a near monopoly; (3) the Company's first and second quarter 2012 sales growth could not be maintained and was not the result of the defendants` business acumen or growth in the market for InfiniBand; (4) Mellanox`s inventory, both at the Company and in the hands of at least one customer, was increasing dramatically, and the increase would result in decreased sales and profit margins going forward. Full Article
Radware Ltd And Mellanox Technologies, Ltd. Combine Technology To Enable Mobile Carriers To Leverage Network Functions Virtualization And Software Defined Networking
Radware Ltd announced a collaborative effort with Mellanox Technologies. Combining Application Delivery and Attack Mitigation Security solutions with Mellanox Technologies' 10G and 40G NICs, illustrates an ability to extract network and application information that can be translated and leveraged to a scalable solution for detection of various security threats, in real-time. Full Article
Saxena White P.A. Files Securities Fraud Class Action Against Mellanox Technologies Ltd
Saxena White P.A. announced that it has filed a securities fraud class action lawsuit in the United States District Court for the Southern District of New York against Mellanox Technologies Ltd on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from April 19, 2012 through January 2, 2013 (the Class Period). The complaint brings forth claims for violations of the Securities Exchange Act of 1934. future prospects. According to the complaint, the true facts, which were known or recklessly disregarded by each of the defendants but concealed from the investing public during the Class Period, were as follows: (i) Mellanox was receiving a continuous stream of customer complaints concerning glitches in its InfiniBand product; (ii) Mellanox knew that the pace of a competitor's development of its own InfiniBand adaptor would diminish Mellanox's product offering and increase competition in the InfiniBand market in which Mellanox enjoyed a near monopoly; Mellanox knew that its outsized first and second quarter 2012 sales growth was not sustainable and was not the result of defendants' business acumen or growth in the InfiniBand market; (iii) Mellanox's inventory was dramatically increasing, both at the Company and in the hands of at least one significant customer, which would decrease sales and profit margins going forward. Full Article
Bernstein Liebhard LLP Announces Class Action Has Been Filed Against Mellanox Technologies Ltd
Bernstein Liebhard LLP announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of a class (the Class) of purchasers of Mellanox Technologies, Ltd. (Mellanox or the Company) common stock between April 19, 2012 and January 2, 2013 (the Class Period). The complaint charges Mellanox and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Mellanox produces and supplies interconnect products for computing, storage, and communication applications in the computing, Web 2.0, storage, financial services, database, and Cloud markets. Mellanox's most lucrative product offering at the start of the Class Period was its InfiniBand product. InfiniBand technology is used to transfer and store data in high-end computing and data centers. Full Article
NASDAQ OMX NLX Selects Mellanox Technologies Ltd's Infiniband Solutions For Core Trading Interconnect
Mellanox Technologies Ltd announced that its industry and performance InfiniBand solutions have been selected by NASDAQ OMX NLX (NLX) to enable fast, reliable trading. NLX, the new London derivatives market, will offer a range of both short- and long-term interest rate (STIRs and LTIRs) euro- and sterling-based listed derivatives products, subject to Financial Services Authority approval. InfiniBand will act as the server interconnect for NLX`s matching engines. In addition to Mellanox`s InfiniBand interconnect solutions, NASDAQ OMX NLX will use Mellanox`s VMA messaging accelerator to cut 60-to-70 percent of the server-to-server latency and eliminate jitter. Full Article
Rigrodsky & Long, P.A. Announces Securities Fraud Class Action Lawsuit Against Mellanox Technologies Ltd
Rigrodsky & Long, P.A. announced that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Mellanox Technologies Ltd (Mellanox or the Company) between April 19, 2012 and January 2, 2013, inclusive (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the Complaint). According to the Complaint, Mellanox repeatedly increased its own forward financial guidance throughout the Class Period - ignoring both the potential decreases in Intel`s own demand for Mellanox InfiniBand - related product offerings and competition from the networking behemoth with far superior sales and technological capabilities. Mellanox also concealed that repeated reports of significant product glitches with its own InfiniBand product offerings during the Class Period were diminishing sales demand and increasing the Company`s manufacturing costs. Full Article
Holzer Holzer & Fistel, LLC Announces Investigation into Mellanox Technologies Ltd
Holzer Holzer & Fistel, LLC announced that it is investigating whether certain statements made by Mellanox Technologies Ltd (Mellanox or the Company) and/or certain of its officers between April 19, 2012 and January 2, 2013 violated the federal securities laws. Specifically, the investigation focuses on a series of statements made during that time regarding demand for the Company`s InfiniBand products and the Company`s competitive position overall. Full Article
Mellanox Technologies Ltd Issues Q1 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
Mellanox Technologies Ltd announced that for first quarter of 2013, it expects revenue to be in the range of $78 million to $83 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $122 million for first quarter of 2013. Full Article
BRIEF-Mellanox Tech U.S.-listed shares up in premarket after JMP upgrade
NEW YORK, March 7 - Mellanox Technologies Ltd : * Mellanox Tech U.S.-listed shares up 4.8 percent to $53.30 in premarket after JMP Securities upgrade to "Outperform" rating.
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