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AMCC to take hold of SATA provider

Posted: 05 Mar 2004 ?? ?Print Version ?Bookmark and Share

Keywords:applied micro circuits? 3ware? disk-to-disk backup?

Applied Micro Circuits Corp. (AMCC) has signed a definitive agreement to acquire 3ware Inc., a provider of 3ware Serial ATA (SATA) storage solutions for applications such as disk-to-disk backup, near-line storage, network-attached storage (NAS), video, and high-performance computing.

Under the terms of the agreement, AMCC will acquire all outstanding shares of 3ware for about $150 million in cash and will assume stock options based on an exchange ratio to be determined at closing. The transaction is expected to close on April 1, 2004. 3ware currently employs about 70 people, the majority of whom are in the Sunnyvale, California headquarters. The 3ware team, including President and CEO Faye Pairman, will report to Brent Little, AMCC's SVP and SAN general manager, as part of AMCC's global SAN business.

"One of the fastest growth segments in storage today is SATA RAID and 3ware has achieved significant market penetration with a switched architecture that delivers performance, scalability and the economy of SATA," said Dave Rickey, chairman, president and CEO of AMCC. "3ware's customers and channel relationships complement our existing small and medium business Fibre Channel Host Bus Adapter (HBA) strategy, while extending our reach into the direct-attached (DAS) and network-attached storage (NAS) segments of the industry," added Rickey.

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