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Jim McCluney, CEO, Emulex: Page 4 of 6

I think that it will be a little while [before further acquisitions] because we are still absorbing these other companies. We made three acquisitions in three years -- I can't predict that we will be doing that again.

Some of our acquisitions could be in software management or other adjacent technologies that could add to our portfolio. People need to make their data more mobile, but they also need to make it more accessible and more secure.

We just spent $160 million for Sierra Logic, and that left us net cash of $250 million. We generated $50 million in cash in the September quarter, so we're a good cash machine.

Byte & Switch: How do you see the 10-Gbit/s Ethernet and Fibre Channel markets shaping up over the next few years?

McCluney: We will have [a 10-Gbit/s Ethernet HBA] product available before 2008. With VOIP and Video on Demand there's phenomenal demand for increased bandwidth.