Good-bye Smooth-Stone, hello Calxeda (pronounced “Cal-Zeh-Dah”).

The startup, which specializes in server designs using ARM’s low-power processor technology, is not only undergoing a name change, new staffing developments point to a company that’s gearing up to take on server vendors that have made their fortunes on Intel’s and AMD’s x86 processors. Earlier this summer, the company raised $48 million from VCs and even ARM itself to further the development of its tech.

To help chart a course toward the energy efficient data center of the (near) future, Calxeda attracted the following execs from some pretty big names in IT:

Karl Freund, formerly of IBM and Hewlett-Packard, as Vice President of Marketing
Bob Baughman, previously with Polycom and Marvell, as Vice President of Business Development and Sales
Steve Beatty, Vice President of Manufacturing, formerly of Freescale and SigmaTel.

Calxeda expects to release the first samples of its ARM-based server technology, which the company says will result in a 10X bump in data center performance efficiency, in 2011.