Product category:
PC-Compatible Boards and Assemblies
News Release from: LSI Europe
Edited by the Electronicstalk Editorial
Team on 30 October 2006
Acquisition expands storage options
LSI Logic Corp has signed a definitive agreement to acquire StoreAge Networking Technologies for approximately US $50 million in cash.
LSI Logic Corp has signed a definitive agreement to acquire StoreAge Networking Technologies for approximately US $50 million in cash StoreAge Networking Technologies, a privately held company based in Nesher, Israel with US offices in Irvine, California, provides SAN storage management and multitiered, data protection software for the enterprise
This article was originally published on Electronicstalk on 23 May 2001 at 8.00am (UK)
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"We are excited to add the significant capabilities of the StoreAge product portfolio to our industry-leading storage silicon, systems and software building block offerings", said Abhi Talwalkar, LSI Logic President and Chief Executive Officer.
"We look forward to welcoming StoreAge employees and continuing to serve the needs of StoreAge channel partners and OEM customers".
"With the rapid growth in data storage capacity, enterprise customers are seeking enhanced levels of data protection, highly effective storage management tools and reduced cost of ownership", said Phil Bullinger, Senior Vice President and General Manager, Engenio Storage Group, LSI Logic.
"Through the acquisition of StoreAge, we anticipate offering our OEM and channel customers a richer set of products and features that fully address these important end user requirements".
Under terms of the agreement, LSI will acquire all outstanding StoreAge capital stock.
Additionally, LSI expects to offer employment to all StoreAge employees, who are expected to join the company's Engenio Storage Group on closing.
The transaction is expected to close in the fourth quarter of 2006 and is subject to satisfaction of customary closing conditions.
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