Seagate announced plans to acquire storage software and hardware vendor Dot Hill Systems for $694m, which the company said would help bolster its cloud portfolio of products.
Dot Hill specialises in SAN technology and offers a range of storage array-based systems integrated with its storage and data management software, which are tailored primarily to the needs of cloud and virtualised workloads.
“Dot Hill’s innovative storage systems and IP portfolio are a strategic addition to our storage technology portfolio, enabling us to accelerate the growth of Seagate’s OEM-focused cloud storage system and solutions business,” said Phil Brace, president of Cloud Systems and Electronics Solutions at Seagate.
“We are focused on providing the highest quality storage systems for our OEM customers and Dot Hill’s storage solutions will enable us to advance our strategic efforts. We look forward to welcoming Dot Hill’s strong team, which has proven experience in developing and delivering best-in-class storage solutions that are trusted by the world’s leading IT manufacturers and their channel partners,” Brace added.
The move will see Seagate pay $9.75 per Dot Hill share, totaling about $694m. Seagate said following the acquisition it will integrate Dot Hill’s portfolio into its cloud systems and electronics business.
“Seagate has a strong reputation in enterprise storage and is focused on building out its best-in-class storage system capabilities, making them the right home for the talented Dot Hill team,” said Dana Kammersgard, chief executive officer of Dot Hill. “Dot Hill’s customers will benefit from leveraging Seagate’s leading technology and infrastructure to accelerate the delivery of advanced solutions.”
[“Source- businesscloudnews”]
