Storage supplier Adaptec is to acquire network-attached storage (NAS) maker Snap Appliance, for about $100m (£53.9m).
Adaptec, best known as a supplier of ASICs (application specific integrated circuits) and Raid (redundant array of inexpensive disks) arrays, will pay $91m in cash and $9m in stock for the company.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
Snap Appliance will form the basis of a new storage system division within Adaptec, to be managed by Snap Appliance's chief executive, Eric Kelly.
The Snap Appliance division is expected to contribute more than $40m in revenue to the company over the next year - the company had revenue of more than $450m during its most recent financial year.
The deal will give Adaptec "the ability to manage both block and file data", due to Snap Appliance's GuardianOS software platform, Adaptec said, referring to the software embedded in Snap's NAS appliances.
Robert McMillan writes for IDG News Service