Emulex Agrees to Buy Vixel for $310 Million

Emulex Corp., whose computer chips and cards are used in data-storage machines made by companies such as EMC Corp., agreed to buy Vixel Corp. to acquire its storage technology.

Emulex, based in Costa Mesa, will pay $10 a share in cash for Bothell, Wash.-based Vixel, for a total of about $310 million, the companies said. That’s a premium of 17% to Vixel’s closing share price Tuesday of $8.54 on Nasdaq.

Shares of Emulex fell 52 cents to $28.20 on the NYSE.