Ezchip Semiconductor Ltd. (NASDAQ:EZCH), based in Yokneam, Israel is a fabless semiconductor company that provides data-path processing solutions for a range of applications for carrier, cloud and data center networks. On September 30, 2015, the company entered into a merger agreement with Mellanox Technologies to be acquired of $25.50 cash per share, in a transaction worth $765 million. Regulatory and shareholder votes were received by February of 2016, and the deal officially closed on February 22, 2016. The Fund earned a 2.36% annualized return.
From Mario Gabelli (Trades, Portfolio)'s first quarter 2016 ABC Fund shareholder commentary.
