Exhibit 99.1

Mellanox Technologies, Ltd.

Press/Media Contact:

Brian Sparks

408-970-3400

media@mellanox.com

U.S. Investor Contact:

Janine Zanelli

408-916-0012

janine@mellanox.com

Israel Investor Contact:

Nava Ladin

Gelbart Kahana Investor Relations

+972-3-6074717

nava@gk-biz.com

Mellanox Technologies, Ltd. Announces Record Quarterly Results

80.4 Percent Year-over-Year and 7.6 Percent Quarter-over-Quarter Revenue Growth

SUNNYVALE, Calif. and YOKNEAM, ISRAEL — Oct. 26, 2011 — Mellanox® Technologies, Ltd. (NASDAQ: MLNX; TASE: MLNX), a leading supplier of end-to-end connectivity solutions for servers and storage systems, today announced record revenue of $68.2 million for its fiscal third quarter 2011, ended September 30, 2011.

Third Quarter Highlights

·                  Revenues were $68.2 million

·                  GAAP gross margins were 64.5 percent; non-GAAP gross margins were 68.2 percent

·                  GAAP operating income was $5.6 million; non-GAAP operating income was $13.9 million, or 20.3 percent of revenues

·                  GAAP net income: $4.8 million; non-GAAP net income $13.0 million

·                  GAAP net income per diluted share: $0.13; non-GAAP net income per diluted share $0.31

·                  $14.9 million in cash provided by operating activities

·                  $220.6 million in total cash and investments at September 30, 2011

Financial Results

In accordance with U.S. generally accepted accounting principles (GAAP), the company reported revenue of $68.2 million, up 7.6 percent from $63.3 million in the second quarter of 2011, and up 80.4 percent from $37.8 million in the third quarter of 2010.

GAAP gross margins in the third quarter of 2011 were 64.5 percent, compared with 64.9 percent in the second quarter of 2011 and 73.9 percent in the third quarter of 2010.

Non-GAAP gross margins in the third quarter of 2011 were 68.2 percent, compared with 68.9 percent in the second quarter of 2011 and 74.2 percent in the third quarter of 2010.

GAAP net income in the third quarter of 2011 was $4.8 million or $0.13 per diluted share, compared with $2.1 million or $0.06 per diluted share in the second quarter of 2011, and $3.5 million or $0.10 per diluted share in the third quarter of 2010.

Non-GAAP net income in the third quarter was $13.0 million, or $0.31 per diluted share, compared with $10.3 million or $0.27 per diluted share in the second quarter of 2011, and $8.1 million, or $0.22 per diluted share in the third quarter of 2010.

The third quarter 2011 non-GAAP net income results exclude $5.6 million of share-based compensation expenses compared to $5.4 million in the second quarter of 2011, and compared to $3.6 million in the third quarter of 2010.  It also excludes amortization of acquired intangible assets of $2.6 million associated with the acquisition of Voltaire, Ltd. on February 7, 2011 compared to $2.8 million of such amortization expenses in the second quarter of 2011.  The third quarter 2010 non-GAAP net income also excludes $1.1 million of tax expenses related to utilization of deferred tax assets in Israel.

In September, the company conducted a follow on public offering of 3,450,000 shares and raised $109.5 million.  As a result, total cash and investments were $220.6 million at September 30, 2011.  The company generated $14.9 million in cash from operating activities during the quarter.

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“We are proud to achieve revenue growth of 7.6 percent and non-GAAP EPS growth of 14.9 percent compared to the prior quarter, as well as non-GAAP operating income of 20.3 percent of revenues.  Our product momentum in various vertical markets and applications helped us achieve record quarterly results.  We see tens-of-thousands of our InfiniBand and 10 Gigabit Ethernet adapters deployed in multiple Web 2.0 applications,” said Eyal Waldman, chairman, president and CEO of Mellanox Technologies.  “I am pleased to announce that our FDR 56Gb/s InfiniBand and 40 Gigabit Ethernet I/O solutions are now generally available and have started shipping to our customers.  New server and storage clusters, deployed with our FDR InfiniBand adapters with PCI Express 3.0, are demonstrating record results in terms of bandwidth, latency and overall return-on-investment.  We are excited by the business prospects of these products and the benefits they bring to our HPC, enterprise, financial services, Web 2.0 and cloud data center end-user base.”

Recent Mellanox Press Release Highlights

·                  Oct. 3 - Mellanox Announces Collaboration with Microsoft on Multiple Technology Demonstrations of New InfiniBand RDMA Support in Windows Server 8

·                  Oct. 3 - Mellanox InfiniBand Selected by Microsoft for SQL Server Parallel Data Warehouse-Based Systems

·                  Sept. 19 - Mellanox Technologies, Ltd. Announces Launch of Public Offering

·                  Sept. 6 - Mellanox Provides High Speed Connectivity for UK-based Grid Computing Project

·                  Aug. 29 - Mellanox ConnectX-2 10GbE Adapters Achieve VMware Ready Status

·                  Aug. 29 - Mellanox Introduces ConnectX-3 10/40GbE Adapters with Multiple Physical Functions for VMware ESXi 5.0

·                  Aug. 29 - Mellanox Introduces World’s Highest-Density 64-Port L2/L3 10GbE Switch

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·                  Aug. 1 - Mellanox Boosts Scalability and Performance of France GRID’5000 - A Large Scale, Nationwide High-Performance Computing Infrastructure

·                  July 28 - Dell Unveils New Bing Maps Boulder Microsite with Mellanox InfiniBand

Conference Calls

Mellanox will broadcast its third quarter conference call on Wednesday, Oct. 26 at 2 p.m. Pacific Time (5 p.m. Eastern Time). To listen to the call, dial 877-831-3840 approximately ten minutes prior to the start time.

Mellanox will also conduct a conference call on Thursday, Oct. 27 at 9 a.m. Israel Time to discuss the company’s third quarter 2011 financial results in Hebrew.  To listen to the call, dial +972-3-9180609 approximately 10 minutes prior to the start of the call.

The Mellanox financial results conference call will be available via a live webcast on the investor relations section of the Mellanox website at http://ir.mellanox.com. Access the web site 15 minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay will also be available on the Mellanox website.

About Mellanox

Mellanox Technologies is a leading supplier of end-to-end InfiniBand and Ethernet connectivity solutions and services for servers and storage. Mellanox products optimize data center performance and deliver industry-leading bandwidth, scalability, power conservation and cost-effectiveness while converging multiple legacy network technologies into one future-proof architecture. The company offers innovative solutions that address a wide range of markets including HPC, enterprise, mega warehouse data centers, cloud computing, Internet and Web 2.0.

Founded in 1999, Mellanox Technologies is headquartered in Sunnyvale, California and Yokneam, Israel. For more information, visit Mellanox at www.mellanox.com.

GAAP to Non-GAAP Reconciliation

To supplement our consolidated financial statements presented in accordance with generally accepted accounting principles (GAAP), Mellanox uses non-GAAP financial measures, including non-GAAP gross profit, operating income, net income and earnings per share. These supplemental measures exclude share-based compensation expenses, changes in certain deferred tax assets, amortization of acquired intangibles and acquisition related charges. The company believes the non-GAAP results provide useful information to both management and investors, as these non-GAAP results exclude expenses that are not indicative of our

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core operating results. Management believes it is useful to exclude share-based compensation expenses, changes in deferred tax assets, amortization of acquired intangibles and acquisition related charges because it enhances investors’ ability to understand our business from the same perspective as management, which believes that such items are not directly attributable to nor reflect the underlying performance of the company’s business operations.  Further, management believes certain non-cash charges, such as share-based compensation, amortization of acquired intangibles and changes in certain deferred tax assets do not reflect the cash operating results of the business. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. These non-GAAP measures may be different than the non-GAAP measures used by other companies. A reconciliation of GAAP to non-GAAP adjustments is also presented in the financial statements portion of this release and is posted under the “Investors” section at our web site.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management’s beliefs and certain assumptions made by us, all of which are subject to change.

Forward-looking statements can often be identified by words such as “projects,” “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions and variations or negatives of these words.  These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.

The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include the continued expansion of our product line, customer base and the total available market of our products, the continued growth in demand for our products, the continued, increased demand for industry standards-based technology, our ability to react to trends and challenges in our business and the markets in which we operate, our ability to anticipate market needs or develop new or enhanced products to meet those needs, the adoption rate of our products, our ability to establish and maintain successful relationships with our OEM customers, our ability to effectively compete in our industry, fluctuations in demand, sales cycles and prices for our products and services, our success converting design wins to revenue-generating product shipments, and our ability to protect our intellectual property rights.

In addition, current uncertainty in the global economic environment poses a risk to the overall economy as businesses may defer purchases in response to tighter credit conditions, changing overall demand for our products, and negative financial news. Consequently, our results could differ materially from our prior results due to these general economic and market conditions, political events and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission.

More information about the risks, uncertainties and assumptions that may impact our business is set forth in our form 10-Q filed with the SEC on Aug 4, 2011, and our form 10-K filed with the SEC on March 7, 2011. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.

Mellanox, BridgeX, ConnectX, CORE-Direct, InfiniBridge, InfiniHost, InfiniScale, PhyX, SwitchX, Virtual Protocol Interconnect and Voltaire are registered trademarks of Mellanox Technologies, Ltd. FabricIT, and MLNX-OS are trademarks of Mellanox Technologies, Ltd. All other trademarks are property of their respective owners.

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Mellanox Technologies, Ltd.

Condensed Consolidated Statements of Operations

(in thousands, except per share data, unaudited)

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Mellanox Technologies, Ltd.

Reconciliation of Non-GAAP Adjustments

(in thousands, except per share data and percentages, unaudited)

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Mellanox Technologies, Ltd.

Reconciliation of Non-GAAP Adjustments

(in thousands, except per share data, unaudited)

* Under GAAP, shares used in computing income per share are adjusted for the amount of time they are outstanding during the period.  The number of shares used in computing income per share has been adjusted to a non-GAAP measure as if those ordinary shares were outstanding during the entire period to provide a comparable share number in future quarters.

** This adjustment adds back the GAAP effect of additional ordinary shares that would have been outstanding if the dilutive potential common shares from stock options had been issued under the Treasury method.

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Mellanox Technologies, Ltd.

Condensed Consolidated Balance Sheets

(in thousands, unaudited)

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Mellanox Technologies, Ltd.

Condensed Consolidated Statement of Cash Flows

(in thousands, unaudited)

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