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Trebia Croaks

Storage processor startup Trebia Networks Inc. -- which claimed to have the fastest IP storage acceleration technology in the market -- shut its doors yesterday, throwing about 30 employees out of work, several sources tell Byte and Switch.

However, Trebia CEO Ruediger "Rudi" Stroh insists in an email message that the company has not shut down. Rather, he says, it has been acquired.

"We are in the process of completing an acquisition," he writes. But he declined to name the acquiring party and refused to comment further. [Ed. note: You say "acquisition," I say "tomahto."]

Stroh joined the company in February after its VCs ousted most of the previous management team. He was previously CEO of Systemonic AG, a German wireless networking chip startup acquired by Philips Semiconductors (NYSE: PHG). Trebia's backers have been said to be shopping the company for the past few months (see Trebia Taps Stroh as CEO, Is Trebia Up for Sale?, and Trebia Ousts CEO).

A Trebia insider, who wished to remain anonymous, says the word is that Emulex Corp. (NYSE: ELX) has signed a deal to buy the startup's intellectual property and hire about 10 of its staffers. An Emulex spokeswoman declined to comment.

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