03 Mar Congratulations to portfolio company Titan IC on its acquisition by Mellanox
Today Mellanox Technologies, Ltd. (NASDAQ: MLNX) has announced that they are acquiring Clarendon Fund Manager’s portfolio company Titan IC. Titan IC’s world class team in Belfast will become the center of advanced network intelligence research and development for Mellanox.
“We are pleased to become part of Mellanox and together we will accelerate the pace of innovation and will advance network intelligence to new levels of performance and insight,” said Noel McKenna, CEO, Titan IC. The acquisition combines best in class networking and deep packet inspection acceleration for cyber security and big data analytics applications. Mellanox is the leading supplier of high-performance, end-to-end smart interconnect solutions for data center servers and storage systems. The company describes Titan IC as the leading developer of network intelligence (NI) and security technology to accelerate search and big data analytics across a broad range of applications in data centers worldwide.
Brian Cummings from Clarendon Fund Managers, said, “We congratulate Noel, Dwayne, Sakir and the Titan team on their acquisition by Mellanox. We first invested from Co-Fund NI* in Titan in 2015, alongside business angels and institutional investors and together continued that support to help build this world class business. We wish Mellanox every success in their ongoing relationship with Belfast”. Brian continued, “Titan now joins, PathXL (acquired by Philips), Ingresso (acquired by Accesso), Fusion Antibodies (LSE FAB.L) and Diaceutics (LON DXRX) from our Co-Fund NI portfolio that have been acquired or achieved a listing on AIM.”
(*Co-Fund NI (ERDF) is supported by Invest Northern Ireland and the European Regional Development Fund 2017-2022 Programme for Jobs & Growth.)