Emulex 10GbE NICs with Advanced Application and Hybrid Cloud Acceleration Enhance HP ProLiant Gen9 Platforms

COSTA MESA, Calif., April 8, 2015 /PRNewswire/ -- Emulex Corporation (NYSE: ELX), a leader in network connectivity, monitoring and management, today announced that its 10Gb Ethernet (10GbE) technology is being used in the HP Ethernet 10Gb 2-port 557SFP+ Adapter PCI Express (PCIe) 3.0 Network Interface Card (NIC) for the HP ProLiant Gen9 rack and tower servers. Utilizing Emulex's newest 10GbE technology in the latest generation PCI 3.0 format helps HP deliver leading-edge performance, value and simplicity with advanced features and functionality for enterprise virtualization and hybrid cloud deployments.

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"Emulex offers a broad portfolio of I/O connectivity solutions for HP ProLiant Gen9 servers, delivering comprehensive coverage across form factors as well as networking and storage protocols," said Shaun Walsh, senior vice president of marketing, Emulex. "The HP 557SFP+ NIC delivers exclusive Emulex advanced features such as RDMA over Converged Ethernet (RoCE) and tunnel offloading, giving customers the functionality they need as they leverage next generation technologies in their data centers, such as network functions virtualization (NFV), hybrid cloud overlay networks and RoCE."

The HP 557SFP+ NIC, based on Emulex OneConnect® Ethernet Network Adapter technology, delivers the following key benefits for HP ProLiant Gen9 environments:

• Increased Networking Performance: The HP 557SFP+ NIC enables up to four times better small packet processing performance than the previous generation adapter¹.  Improvements in small packet processing performance are important for accelerating Voice over IP (VoIP), mobile messaging, gaming, and select NFV applications.
• Superior Server CPU Effectiveness with Tunnel Offloads: The HP 557SFP+ NIC includes the industry's only hardware offload support for Virtual Extensible Local Area Network (VXLAN) running on VMware and Network Virtualization using Generic Routing Encapsulation (NVGRE) tunnels, designed to simplify virtual machine (VM) mobility and network scalability while optimizing server performance when compared to adapters that lack offload capability.
• More I/O Per Unit of Server CPU: For hybrid cloud overlay networks, the HP 557SFP+ NIC provides increased throughput by up to 143 percent and increased CPU effectiveness by up to 46 percent vs. adapters without overlay networking offload¹, further optimizing server performance.
• Accelerated Network Attached File Storage (NAS) I/O: Accelerated file storage I/O enhances Microsoft applications with exclusive, high performance SMB Direct with RoCE networking hardware offload support. RoCE reduces I/O response time and server CPU consumption for NAS infrastructures by bypassing software, thereby reducing CPU utilization for fast data transfer.

"In today's cloud and mobile-first world, customers face challenges with increasingly complex network traffic patterns, increases in small packets, need to improve responsiveness, and doing more with less," said McLeod Glass, vice president, ProLiant Rack and Tower Product Management, HP. "The new HP 557SFP+ NIC, based on Emulex OneConnect technology, adds to the extensive Emulex I/O adapter portfolio we offer our HP ProLiant customers, giving them the flexibility, protocol choice and performance they need, while reducing total cost of ownership. The advanced 10GbE capabilities in the HP 557SFP+ NIC, including tunnel offload support, boosts HP ProLiant server performance and increases overall server efficiency, which is key to maximizing host VM density, accelerating performance, and increasing the efficiency of applications such as Microsoft Hyper-V Live Migration, SQL Server and Microsoft SharePoint with SMB Direct."          

The HP 557SFP+ NIC with Emulex technology became generally available on March 30, 2015. For more information on this product or any other HP/Emulex products, please visit http://www.emulex.com/hp.

1. IT BrandPulse Test Report, "OCe14000 Performance," October 2014

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About Emulex
Emulex provides connectivity, monitoring and management solutions for high-performance networks, delivering provisioning, end-to-end application visibility, optimization and acceleration for the next generation of software-defined, telco and Web-scale data centers. The Company's I/O connectivity portfolio, which has been designed into server and storage solutions from leading OEMs and ODMs worldwide, enables organizations to manage bandwidth, latency, security and virtualization. The Emulex network visibility portfolio enables global organizations to monitor and improve application and network performance management. Emulex is headquartered in Costa Mesa, Calif. For more information about Emulex (NYSE:ELX) please visit http://www.Emulex.com.

Cautions Regarding Forward-Looking Statements
This announcement contains forward-looking statements. Forward-looking statements may be typically identified by such words as "may," "will," "could," "should," "expect," "anticipate," "plan," "likely," "believe," "estimate," "project," "intend," and other similar expressions among others. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. Although Avago Technologies Limited ("Avago") and Emulex Corporation ("Emulex") believe that the expectations reflected in the forward-looking statements are reasonable, any or all of such forward-looking statements may prove to be incorrect. Consequently, no forward-looking statements may be guaranteed and there can be no assurance that the actual results or developments anticipated by such forward looking statements will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Avago, Emulex or their respective businesses or operations. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in Emulex's and Avago's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, respectively, and Emulex's and Avago's more recent reports filed with the SEC. Emulex and Avago can give no assurance that the conditions to the transaction will be satisfied. Neither Emulex nor Avago undertakes any intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. Emulex is responsible for information in this press release concerning Emulex and Avago is responsible for information in this press release concerning Avago.

"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 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 actual future results could differ materially from those described in the forward-looking statements as a result of a variety of factors, including those 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." Those factors and the factors listed below could cause actual results to differ materially from those in the forward-looking statements:

• faster than anticipated declines in the demand for storage networking and fiber channel and 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;
• the highly competitive nature of the markets for our products as well as pricing pressures that may result from such competitive conditions  and the emergence of new or stronger competitors as a result of consolidation movements in the market;
• 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 our OEM customers to successfully incorporate our products into their systems;
• our reliance on a limited number of third-party suppliers and subcontractors for components and assembly, many of which are located outside of the United States;
• the effect on our margins of rapid migration of technology and product substitution by customers, including transitions from application specific integrated circuit (ASIC) solutions to boards for selected applications and higher-end to lower-end products, mezzanine card products or modular Local Area Network (LAN) on Motherboard (LOMs);
• the non-linearity and variability in the level of our revenue resulting from the variable and seasonal procurement patterns of our customers;
• the possibility that our goodwill could become impaired in the near term which would result in a non-cash charge and could adversely affect our reported GAAP operating results;
• any inadequacy of our intellectual property protection or our ability to obtain necessary licenses or other intellectual property rights on commercially reasonable terms;
• our ability to attract and retain key technical personnel;
• our ability to respond quickly to technological developments and to benefit from our research and development activities as well as government grants related thereto and delays in product development;
• intellectual property and other litigation against us, with or without merit, that could result in substantial attorneys' fees and costs, cause product shipment delays, loss of patent rights, monetary damages, costs associated with product or component redesigns and require us to indemnify customers or enter into royalty or licensing agreements, which may or may not be available;
• our dependence on sales and product production outside of the United States so that our results could be affected by adverse economic, social, political and infrastructure conditions in those countries;
• weakness in domestic and worldwide macro-economic conditions, currency exchange rate fluctuations or  potential disruptions in world credit and equity markets; terrorist activities, natural disasters, or general economic or political instability and any resulting disruption in our supply chain or customer purchasing patterns; and
• changes in tax rates or legislation, accounting standards and other regulatory changes.

On February 25, 2015, Emulex agreed to be acquired by Avago Technologies Limited (Nasdaq: AVGO), subject to the satisfaction of certain conditions.  Factors related to the acquisition which could cause actual results to differ from those projected or contemplated in any such forward-looking statements include, but are not limited to, the following factors: (1) the risk that the conditions to the closing of the transaction are not satisfied, including the risk that Avago may not receive a sufficient number of shares tendered from Emulex stockholders to complete the tender offer; (2) litigation relating to the transaction; (3) uncertainties as to the timing of the consummation of the transaction and the ability of each of Emulex and Avago to consummate the transaction; (4) risks that the proposed transaction disrupts the current plans and operations of Emulex or Avago; (5) the ability of Emulex to retain and hire key personnel; (6) competitive responses to the proposed transaction; (7) unexpected costs, charges or expenses resulting from the transaction; (8) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the transaction; (9) Avago's ability to achieve the growth prospects and synergies expected from the transaction, as well as delays, challenges and expenses associated with integrating Emulex with Avago's existing businesses; and (10) legislative, regulatory and economic developments.

All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

Additional Information about the Transaction and Where to Find It
The tender offer described herein has not yet commenced. This press release is for informational purposes only and shall not constitute an offer to purchase or the solicitation of an offer to sell any shares of the common stock of Emulex or any other securities. Any offer will only be made pursuant to a tender offer statement on Schedule TO, which will contain an offer to purchase, form of letter of transmittal and other documents relating to the tender offer (collectively, the "Tender Offer Materials"), each to be filed with the U.S. Securities and Exchange Commission (the "SEC") by Avago, Avago Technologies Wireless (U.S.A.) Manufacturing Inc. and Emerald Merger Sub, Inc. In addition, Emulex will file with the SEC a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer. Avago and Emulex expect to mail the Tender Offer Materials, as well as the Schedule 14D-9, to Emulex stockholders. Investors and security holders are urged to carefully read these documents, as well as any other documents relating to the tender offer or related transactions that are filed with the SEC, when they become available, as they may be amended from time to time, because these documents will contain important information relating to the tender offer and related transactions. Investors and security holders may obtain a free copy of these documents after they have been filed with the SEC, and other annual, quarterly and special reports and other information filed with the SEC by Avago or Emulex, at the SEC's website at www.sec.gov. In addition, such materials will be available for free from Avago or Emulex by directing any requests to investor relations at Avago or Emulex at the applicable phone number or email address below.

A description of certain interests of the directors and executive officers of Emulex is set forth in Emulex's Form 10-K/A, Amendment No. 1, in Part III thereof, which was filed with the SEC on October 27, 2014. A description of certain interests of the directors and executive officers of Avago is set forth in Avago's proxy statement for its 2015 annual meeting, which was filed with the SEC on February 20, 2015. To the extent holdings of either company's securities by their respective directors and certain officers have subsequently changed, such changes have been reflected on Forms 4 filed with the SEC.

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