Hifn acquires network processor line from IBM

Hifn Inc. has entered into a definitive agreement with IBM to acquire selected assets and license other intellectual property from IBM associated with the IBM Picoprocessor PowerNP product line for about $15 million in cash. Under the terms of the agreement, IBM will manufacture the Picoprocessor PowerNP products for Hifn as part of its foundry business.

"The Picoprocessor PowerNP products complement our security processor business," said Chris Kenber, Hifn's chairman and CEO. "The transaction with IBM also provides us with licenses to use IBM's network processor technology in our next generation of security services processors, thus giving us an industry leading platform for our next phase of growth."

IBM's Picoprocessor PowerNP family of network processors is designed into many network developer platforms that are already in volume production. Key customers include Cisco and Huawei.