Adaptec to Acquire Network Storage Infrastructure Software Provider

1/28/2004 - Adaptec, Inc. (NASDAQ: ADPT), a global leader in storage solutions, has agreed in principle to acquire Elipsan Limited, a network storage infrastructure software provider. Elipsan's storage virtualization technology will enable Adaptec to facilitate storage scalability and increase performance across multiple RAID subsystems.

As storage needs grow, IT managers typically expand storage space by adding multiple RAID subsystems, which make network storage more complex to manage. Storage virtualization enables IT managers to capture all network storage capacity physically located throughout the organization in a single, easy-to-manage interface.

By integrating Elipsan's virtualization and business-continuance capabilities directly into Adaptec's RAID subsystems, Adaptec will eliminate the need for a dedicated server or expensive third-party management software. The new capabilities also will enable Adaptec to offer faster data backup and recovery to optimize business continuity.

"As the market continues to migrate from internal to external, and from direct- attached to fabric-attached storage systems, Adaptec is committed to providing the highest levels of functionality, performance and reliability while simplifying storage management and keeping costs down," said Mark Delsman, vice president and chief technology officer. "Adding Elipsan's technology to our existing portfolio will strengthen our end-to-end storage solution offering."

Financial terms of the transaction were not disclosed. The acquisition is expected to be completed within the next several weeks and is subject to the execution of a definitive agreement and customary closing conditions. No assurance can be given, however, that the parties will reach agreement on the terms of such definitive agreement or that such closing conditions will be satisfied.

About Adaptec
Adaptec Inc. (NASDAQ:ADPT) provides end-to-end storage solutions that reliably move, manage and protect critical data and digital content. Adaptec provides software and hardware solutions for storage connectivity and data protection, storage networking and networked storage subsystems to leading OEM and distribution channel partners. Adaptec solutions are in use by enterprises, ISPs, medium and small businesses and consumers worldwide. Adaptec is an S&P Small Cap 600 Index member.

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