Semiconductor and data technology producer Intel has agreed to buy Barefoot Networks, a US-based switching chips producer backed by corporates Alibaba, Tencent and Google, for an undisclosed amount.
Founded in 2013, Barefoot Networks has developed silicon network switches that improve the speed and efficiency or moving, storing and processing data from connected devices.
The chips can be programmed using the open-source P4 programming language and are used by internet service providers, app developers and operators.
Navin Shenoy, general manager of Intel’s data centre group, said: “Upon close, the addition of Barefoot Networks will support our focus on end-to-end cloud networking and infrastructure leadership, and will allow Intel to continue to deliver on new workloads, experiences and capabilities for our data centre customers.”
The company closed an $80m series C round in November 2016 that took its total funding to $130m, when e-commerce firm Alibaba and internet group Tencent co-led a $23m second tranche of the round.
The $57m first tranche was co-led by internet technology provider Google and investment bank Goldman Sachs’ Principal Strategic Investments unit earlier in the year. Sequoia Capital, Lightspeed Venture Partners, Andreessen Horowitz and four unnamed strategic investors also participated.
Barefoot has not revealed details of its previous rounds, though a 2013 regulatory filing showed it raised approximately $1.4m in equity financing from four investors.