Thursday, September 18, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Dropbox, Google, Open Technology Fund, Security Researchers Announce Simply Secure
Apple And U2 To Develop New Digital Music Format
AT&T Launches High-speed U-verse Service for Businesses
AMD Moves Closer To The Introduction Of Project FreeSync Monitors
Ericsson to Shut Modem Business
VIA Launches ARTiGO A900 Android System For IoT and M2M Deployments
Amazon Purchases .buy Domain for 4.6 Million Dollars
Toshiba to Develop New Transistor Series Using Latest Process Technology
Active Discussions
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
 Home > News > General Computing > Adaptec...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, July 27, 2004
Adaptec Completes Acquisition of Snap Appliance


Combined Company Positioned to Become a Leader in External Storage Systems

Adaptec, a global provider of storage solutions, today announced completion of its acquisition of privately held Snap Appliance, Inc., the worldwide volume leader in network-attached storage (NAS) solutions. Adaptec and Snap Appliance have begun developing a comprehensive business integration plan that will be implemented over the next 60 days and span key areas including business development, marketing, sales and branding.

"The Snap Appliance acquisition furthers the Adaptec expansion into the external storage market," said Robert N. Stephens, president and chief executive officer of Adaptec. "With Snap Appliance, Adaptec will deliver a broad product portfolio across direct-attached storage (DAS), network-attached storage (NAS), and Fibre Channel and IP storage-area networks (SANs) to meet customer needs both inside and outside the data center. More than 90 percent of Fortune 500 companies use Adaptec and Snap Appliance products, and, together, the two companies have delivered more than 30 petabytes of storage capacity to date."

Snap Appliance, as a new division of Adaptec, will retain its brand. Eric Kelly, former CEO of Snap Appliance, will report directly to Mr. Stephens. Mr. Kelly and his senior management team will continue to manage the Snap Appliance business.

"Our joint vision of delivering to customers advanced technologies that are easy to use provides us with a tremendous market opportunity," Kelly said. "As a new division of Adaptec, Snap Appliance will continue to build on the reputation and trust we've established with our customers as the worldwide volume leader in network attached storage (NAS) solutions."

Under the terms of the definitive agreement announced on July 13, 2004, Adaptec paid approximately $100 million, which represents approximately $91 million of cash and $9 million of assumed stock options. Adaptec expects the transaction to generate more than $40 million in new revenue over the next four quarters and the acquisition is expected to be accretive to Adaptec by the end of this calendar year.



Previous
Next
Dell announces new Inspiron 700m/XPS series        All News        Google recovers after virus hits
Dell announces new Inspiron 700m/XPS series     General Computing News      Google recovers after virus hits

Get RSS feed Easy Print E-Mail this Message

Related News
CeBIT 2014: Adaptec to Showcase 12Gb/s SAS and Tiering Storage Solutions
PMC Unveils Complete 12Gb/s SAS Storage Solution
PMC Releases First Encrypted PCIe Gen3 for Secure Data Center Storage
Adaptec Launches MaxIQ SSD Cache Performance Solution
Adaptec Adds Unique RAID Data Protection Capabilities
Adaptec and Seagate Join Forces on Serial Attached SCSI Channel Education Initiative
Adaptec Reports 36.0 million Loss
Adaptec Announces First PCI-X Raid-on-Chip
Adaptec's Zero Channel RAID (ZCR) Card
Adaptec's Zero Channel RAID (ZCR) Card Enables Supermicro to Deliver Industry's First SATA II ZCR-Enabled Server Solutions
Adaptec and Vitesse into strategic alliance
Adaptec Redefines Price-Performance for Advanced Data Replication, Distribution and Protection Software

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .