On August 25, 2003, McData announced its intentions to acquire Nishan Systems for $83M in cash (plus $2M in debt) and Sanera for $102M in cash. McData also announced that they have invested $6M in Aarohi Communications, a storage networking chip vendor.
While the Data Tsunami continues unabated and most of the Global 2000 are still struggling to enhance their data protection methodologies, in comes regulations that require data be retained online for specified periods of time in a secure manner. In addition, this data must be authenticated to be the original.
EMC announced today their intention of buying Legato Corporation. The deal is valued at $1.3B, based upon yesterday’s closing price of $11.76 per share for EMC shares. It is expected to close before year-end 2003. We think this is a good deal for both sides.
The word “virtualization” came into vogue a few years ago with the usual fanfare, hype and the expectation that it would solve all the horrendous storage management problems the industry was facing. Virtualization was to be the cure for all ills.