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Emulex Offer For Endace Shares Dispatched

                  Emulex Offer For Endace Shares Dispatched

Endace Board Unanimously Recommends That All Shareholders and Optionholders
Accept the Emulex Offer

PR Newswire

COSTA MESA, Calif. and SUNNYVALE, Calif., Dec. 20, 2012

COSTA MESA, Calif. and SUNNYVALE, Calif., Dec. 20, 2012 /PRNewswire/ --Emulex
Corporation (NYSE: ELX), the leading provider of converged networking
solutions, and Endace Limited (LSE: EDA), a leading supplier of network
visibility infrastructure products, announced today that Emulex's cash offer
of 500 pence per share announced on December 5, 2012 has been officially
dispatched to shareholders and optionholders, under the terms of the New
Zealand Takeovers Code. Using the current exchange rate of 1.62 USD to the
Pound Sterling, this represents a transaction value of approximately $131
million, a 65 percent premium to the mid-market closing price per Endace share
on December 5, 2012 when the offer was announced.

(Logo: http://photos.prnewswire.com/prnh/20120403/NE81278LOGO )

In addition, with the finalization of the Grant Samuel report commissioned by
the Independent Directors of Endace, as required by the New Zealand Takeovers
Code, the Endace Board unanimously recommends that all shareholders and
optionholders accept the Emulex Offer.

"We believe that the acquisition provides compelling value and we are
committed to proceeding expeditiously to complete the transaction," said Jim
McCluney, chief executive officer (CEO), Emulex. "Acquiring Endace doubles our
total addressable market and places Emulex in another high-margin, high-growth
market, enhancing our ability to deliver industry-leading solutions to
connect, monitor and manage high-performance networks."

"By joining forces with Emulex, we will be able to create a new generation of
network visibility solutions and take them to a global market," said Mike
Riley, CEO, Endace. "Endace and Emulex share a common vision and have a strong
cultural affinity, making the combination a great fit for both companies."

A copy of Emulex's Offer, Endace's response (including the Endace Board
recommendation), and the Independent Adviser's report prepared by Grant Samuel
should be received by all Endace shareholders and optionholders within the
next few days. The transaction is expected to be completed in the March 2013
quarter, subject to certain closing conditions, including the acceptance of
the Offer by the holders of 90 percent of the outstanding shares of Endace.
Excluding transaction related expenses, the acquisition is expected to be
neutral to Emulex's non-GAAP earnings per share for fiscal 2013 and accretive
at the beginning of fiscal 2014.

About Emulex

Emulex, the leader in converged networking solutions, provides
enterprise-class connectivity for servers, networks and storage devices within
the data center. The Company's product portfolio of Fibre Channel Host Bus
Adapters, 10Gb Ethernet Network Interface Cards, Ethernet-based Converged
Network Adapters, controllers, embedded bridges and switches, and connectivity
management software are proven, tested and trusted by the world's largest and
most demanding IT environments. Emulex solutions are used and offered by the
industry's leading server and storage OEMs including, Cisco, Dell, EMC,
Fujitsu, Hitachi, Hitachi Data Systems, HP, Huawei, IBM, NEC, NetApp and
Oracle. Emulex is headquartered in Costa Mesa, Calif. and has offices and
research facilities in North America, Asia and Europe. More information about
Emulex (NYSE: ELX) is available at www.Emulex.com.

About Endace

Endace provides world-leading network visibility infrastructure, which is
trusted by some of the world's largest organizations to accelerate their
response to network and security problems.

Endace Intelligent Network Recorders guarantee to capture, index and record
100-percent of network traffic while scaling from 1 Gbps to 100 Gbps.
EndaceVision is Endace's proprietary web-based application that enables
engineers to visualize, search and retrieve network traffic from any Endace
Recorder anywhere across the network.

Endace's marketing headquarters are in Sunnyvale, California. R&D is in
Auckland, New Zealand. Sales offices across the US, in Reading, UK and Sydney,
Australia provide support for customers.

Quoted on London's AIM, the stock code is LSE: EDA.L

"Safe Harbor" Statement

"Safe Harbor'' Statement under the Private Securities Litigation Reform Act of
1995: With the exception of historical information, the statements set forth
above, including, without limitation, those relating to the proposed
acquisition of Endace and Emulex's expected non-GAAP earnings per share for
fiscal 2013 and 2014, contain forward-looking statements that involve risk and
uncertainties. We expressly disclaim any obligation or undertaking to release
publicly any updates or changes to these forward-looking statements that may
be made to reflect any future events or circumstances. We wish to caution
readers that a number of important factors could cause actual results to
differ materially from those in the forward-looking statements. These factors
include the possibility that the proposed acquisition of Endace Limited
(Endace) is not completed on a timely basis or at all, the effects of the
proposed acquisition of Endace, including our ability to realize the
anticipated benefits of the potential acquisition of Endace on a timely basis
or at all, and our ability to integrate the technology, operations and
personnel of Endace into our existing operations in a timely and efficient
manner. In addition, intellectual property claims, with or without merit,
that could result in costly litigation, cause product shipment delays, require
us to indemnify customers, or require us to enter into royalty or licensing
agreements, which may or may not be available. Furthermore, we have in the
past obtained, and may be required in the future to obtain, licenses of
technology owned by other parties. We cannot be certain that the necessary
licenses will be available or that they can be obtained on commercially
reasonable terms. If we were to fail to obtain such royalty or licensing
agreements in a timely manner and on reasonable terms, our business, results
of operations and financial condition could be materially adversely affected.
Ongoing lawsuits, such as the action brought by Broadcom Corporation
(Broadcom), present inherent risks, any of which could have a material adverse
effect on our business, financial condition, or results of operations. Such
potential risks include continuing expenses of litigation, risk of loss of
patent rights and/or monetary damages, risk of injunction against the sale of
products incorporating the technology in question, counterclaims, attorneys'
fees, incremental costs associated with product or component redesigns, and
diversion of management's attention from other business matters. With respect
to the continuing Broadcom litigation, such potential risks also include the
adequacy of any sunset period to make design changes, the ability to implement
any design changes, the availability of customer resources to complete any
re-qualification or re-testing that may be needed, the ability to maintain
favorable working relationships with Emulex suppliers of
serializer/deserializer (SerDes) modules, and the ability to obtain a
settlement which does not put us at a competitive disadvantage. In addition,
the fact that the economy generally, and the technology and storage market
segments specifically, have been in a state of uncertainty makes it difficult
to determine if past experience is a good guide to the future and makes it
impossible to determine if markets will grow or shrink in the short term. The
current weakness in domestic and worldwide macro-economic conditions and
related disruptions in world credit and equity markets that are creating
economic uncertainty for our customers, as well as the storage and converged
networking market as a whole, has and could continue to adversely affect our
revenues and results of operations. As a result of these uncertainties, we are
unable to predict our future results with any accuracy. Other factors
affecting these forward-looking statements include but are not limited to the
following: faster than anticipated declines in the storage networking market,
slower than expected growth of the converged networking market or the failure
of our Original Equipment Manufacturer (OEM) customers to successfully
incorporate our products into their systems; our dependence on a limited
number of customers and the effects of the loss of, decrease in or delays of
orders by any such customers, or the failure of such customers to make timely
payments; the emergence of new or stronger competitors as a result of
consolidation movements in the market; the timing and market acceptance of our
products or our OEM customers' new or enhanced products; costs associated with
entry into new areas of the server and storage technology markets; the
variability in the level of our backlog and the variable and seasonal
procurement patterns of our customers; any inadequacy of our intellectual
property protection and the costs of actual or potential third-party claims of
infringement and any related indemnity obligations or adverse judgments; the
effect of any actual or potential unsolicited offers to acquire us; impairment
charges, including but not limited to goodwill and intangible assets; changes
in tax rates or legislation; the effects of acquisitions; the effects of
terrorist activities, natural disasters, and any resulting disruption in our
supply chain or customer purchasing patterns or any other resulting economic
or political instability; the highly competitive nature of the markets for our
products as well as pricing pressures that may result from such competitive
conditions; the effects of changes in our business model to separately charge
for software; the effect of rapid migration of customers towards newer, lower
cost product platforms; possible transitions from board or box level to
application specific integrated circuit (ASIC) solutions for selected
applications; a shift in unit product mix from higher-end to lower-end or
mezzanine card products; a faster than anticipated decrease in the average
unit selling prices or an increase in the manufactured cost of our products;
delays in product development; our reliance on third-party suppliers and
subcontractors for components and assembly; our ability to attract and retain
key technical personnel; our ability to benefit from our research and
development activities; our dependence on international sales and
internationally produced products; changes in accounting standards; and any
resulting regulatory changes on our business. These and other factors could
cause actual results to differ materially from those in the forward-looking
statements and are discussed in our filings with the Securities and Exchange
Commission, including our recent filings on Forms 10-K and 10-Q, under the
caption "Risk Factors."

This news release refers to various products and companies by their trade
names. In most, if not all, cases these designations are claimed as
trademarks or registered trademarks by their respective companies.

Emulex Investor Contact: Endace Press/Investor Contact:
Frank Yoshino            Tim Nichols
Vice President, Finance  Vice President, Corporate Marketing
+1 714 885-3697          +1 408 220-6149
frank.yoshino@emulex.com tim.nichols@endace.com
Emulex Press Contact:
Katherine Lane
Director, Corporate Communications
+1 714 885-3828
katherine.lane@emulex.com

SOURCE Emulex Corporation

Website: http://www.emulex.com