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LSI buys NAS solutions provider for $25M

Posted: 28 Jul 2009 ?? ?Print Version ?Bookmark and Share

Keywords:network? NAS solution? storage?

LSI Corp. has signed a definitive agreement to acquire ONStor Inc. for approximately $25 million in cash inclusive of assumed debt and other net liabilities.

ONStor is a privately held company that provides clustered network-attached storage (NAS) solutions designed to help enterprises consolidate, protect and manage the accelerating growth of unstructured data. ONStor offers NAS gateways, NAS systems and unified storage systems sold to end users through a worldwide network of channel partners and OEMs.

"The rapid growth of unstructured data is creating significant challenges for enterprises in provisioning, protecting and managing their storage in an efficient and cost-effective manner," said Abhi Talwalkar, LSI president and CEO. "With the addition of ONStor products and technology, LSI will be well positioned to offer a comprehensive set of storage solutions to help enterprise customers effectively manage both their unstructured and structured data with ease."

The transaction is expected to close within 30 days and is subject to satisfaction of customary closing conditions.

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