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NextIO In Deal With Neterion

Austin, Texas-based NetIO, which develops I/O virtualization hardware for the data center market, said this week that it has inked a deal to work with Gigabit Ethernet hardware provider Neterion on I/O virtualization hardware. According to the firms, they will develop virtualization hardware for the PCI-SIG Multi-Root IOV (MR-IOV) standard, a standard which is being used to develop blade and rack servers. Financial details of the partnership were not disclosed. NetIO is backed by Adams Capital Management and Crescendo Ventures, and recently raised $18.8M in its Series C round of fudning.