8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 2, 2006

EMULEX CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-31353	51-0300558
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3333 Susan Street, Costa Mesa, California	92626
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code (714) 662-5600

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d 2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.01 COMPLETION OF ACQUISITION.

On October 2, 2006, Emulex Corporation, a Delaware Corporation (“Emulex”) completed its acquisition of Sierra Logic, Inc. (“Sierra Logic”) for a transaction value of approximately $180 million in cash, assumed debt, assumed Sierra Logic stock options and employee equity incentive compensation. The cash portion of the purchase price was paid upon the closing of the transaction, with approximately $2.6 million ("Escrow Amount") of such amount paid into an escrow account to be held for an 18 month period after the effective date. The Escrow Amount is set aside for potential claims and litigation under the Merger Agreement. The acquisition was initially announced on August 29, 2006, when Emulex entered into an Agreement and Plan of Merger with Sierra Logic.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, which was previously filed as Exhibit 2.1 to Emulex's Current Report on Form 8-K on August 29, 2006.

Item 8.01 OTHER EVENTS.

On October 2, 2006, Emulex announced the acquisition of Sierra Logic for a transaction value up to approximately $180 million in cash, assumed debt, assumed Sierra Logic stock options and employee equity incentive compensation. A copy of the related press release is attached to this Current Report on Form 8-K as Exhibit 99.1 hereto.

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(a) Financial Statements of Business Acquired.

The required financial statements will be filed on Form 8-K/A as soon as practicable, but not later than 71 calendar days after the date of this Form 8-K.

(b) Pro Forma Financial Information.

The required financial statements will be filed on Form 8-K/A as soon as practicable, but not later than 71 calendar days after the date of this Form 8-K.

(c) Exhibits.

99.1       Press Release, dated October 2, 2006, entitled "Emulex Completes Acquisition of Sierra Logic, Inc."

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

EMULEX CORPORATION
(Registrant)
By:	/s/ James M. McCluney
Name: James M. McCluney
Title:   President and Chief Executive Officer

Date: October 2, 2006

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EXHIBIT INDEX

EXHIBIT NO.	DESCRIPTION
99.1	Press Release, dated October 2, 2006, entitled "Emulex Completes Acquisition of Sierra Logic, Inc."

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EX-99

FOR IMMEDIATE RELEASE

Investor Contact:	Michael J. Rockenbach	Press Contact:	Robin Austin
	Chief Financial Officer		Director, Public Relations
	(714) 885-3695		(714) 885-3462

Emulex Completes Acquisition of Sierra Logic, Inc.

Sierra Logic Further Differentiates Emulex’s Product Portfolio

and Extends the Company’s Traction in the Embedded Storage Components Market ________________________________________________

COSTA MESA, Calif., October 2, 2006 – Emulex Corporation (NYSE:ELX) announced today that it has completed the acquisition of Sierra Logic, Inc. The terms of the acquisition include a transaction value of up to approximately $180 million in cash, assumed debt and assumed Sierra Logic stock options, plus employee equity incentive compensation.

Sierra Logic’s current product portfolio includes embedded bridges and routers that enable connectivity of Serial Advanced Technology Attachment (SATA) disk drives within Fibre Channel-based enterprise storage systems which augment Emulex’s strategy of providing end-to-end embedded and multi-protocol storage connectivity. Sierra Logic’s track record of working with market leading storage OEMs will enhance Emulex’s presence as a storage industry leader. Bob Whitson, formerly CEO of Sierra Logic, joins Emulex as Senior Vice President and General Manager, Embedded Storage Products.

“The acquisition of Sierra Logic solidifies Emulex’s embedded multi-protocol strategy and is another critical step toward becoming a market leader in the end-to-end embedded storage components market,” said Jim McCluney, President and CEO of Emulex. “Further, it expands upon the Company’s diversification strategy and provides incremental revenue opportunities that extend Emulex’s addressable market for embedded storage components to more than $800 million in 2009.”

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About Emulex

Emulex Corporation is the most trusted name in storage networking connectivity and a leading provider of critical building blocks for intelligent data center infrastructure solutions. The world’s leading server and storage providers rely on Emulex award-winning HBAs, intelligent storage platforms and embedded storage products, including switches, bridges, routers and I/O controllers, to build reliable, scalable and high performance storage and server solutions. Emulex ranked number 19 in the Deloitte 2005 Technology Fast 50 and is listed on the New York Stock Exchange (NYSE:ELX). Corporate headquarters are located in Costa Mesa, California. News releases and other information about Emulex Corporation are available at http://www.emulex.com.

EMULEX | We network storage

Emulex Safe Harbor Statement

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products and enhancements by competitors; fluctuation in the growth of Fibre Channel and IP markets; changes in economic conditions or changes in end-user demand for technology solutions; fluctuations or delays in customer orders; the highly competitive nature of the markets for Emulex’s products; Emulex’s ability to gain market acceptance for its products; the company’s ability to attract and retain skilled personnel; the company’s reliance on third-party suppliers. These and other factors which could cause actual results to differ materially from those in the forward-looking statements are also discussed in the company’s filings with the Securities and Exchange Commission, including its recent filings on Forms 8-K, 10-K and 10-Q. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

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This news release refers to various products and companies by their trade names. In most, if not all, cases these designations are claimed as trademarks or registered trademarks by their respective companies.

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