The deal, which is expected to be completed in April, is expected to contribute $60m to $70m to IO vendor Adaptec’s revenue for its next financial year to March 31, 2004, and CFO David Young said it would provide a positive impact on its bottom line by mid-year.
With revenue that has been on the slide for the past three financial years, a trend that is likely to continue when its reveals figures for the year to March 31, Apaptec badly needs to reach into new markets.
CEO Robert Stephens said the company is working with leading OEMs to enable the broad industry transition to storage networking by delivering new systems that are as simple and reliable as traditional direct-attached server storage. He said the combination of Eurologic’s storage systems capabilities with Adaptec’s leadership in server storage connectivity and IP storage networking will enable it to provide OEMs and resellers with a single source for direct-attached and networked storage, including iSCI targets.
Eurologic, which has 150 staff, offers a range of external and networked storage products, including JBOD and RAID SCSI, Fibre Channel and Serial ATA. Adaptec says the acquisition will give it access to new sales channels and open opportunities in industries such as medical imaging and digital media.
Prior to the takeover, Eurologic put its SAN software business into a separate entity, which will continue to operate independently.
Source: Computerwire
