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ADAPTEC CLOSES ACQUISITION OF ELIPSAN TO SIMPLIFY NETWORK STORAGE MANAGEMENT

  • 17 February, 2004 15:40

<p>Please see following a release from Adaptec, announcing the completion of their acquisition of Elipsan.</p>
<p>Elipsan are a leader in the storage virtualisation space, and this acquisition demonstrates Adaptec's commitment to offering a range of storage solutions.</p>
<p>Upcoming storage products include FC to SATA and FC to SCSI solutions.</p>
<p>If you would like further information on the Elipsan acquisition and the upcoming storage solutions, or would like to arrange a meeting, please contact:</p>
<p>Natalie Connor</p>
<p>Tel: +61 (0)2 9956 5733</p>
<p>Direct: +61 (0)2 8923 9516</p>
<p>E-mail: nataliec@text100.com.au</p>
<p>ADAPTEC CLOSES ACQUISITION OF ELIPSAN TO SIMPLIFY NETWORK STORAGE MANAGEMENT</p>
<p>Virtualisation Technology Makes Storage More Cost-Effective</p>
<p>MILPITAS, Calif., February 13, 2004 – Adaptec, Inc. (NASDAQ: ADPT), a global leader in storage solutions, has completed the purchase of Elipsan Limited, a network storage software provider. Adaptec purchased Elipsan for $19.5 million in cash. Elipsan’s storage-virtualisation software enables Adaptec to make storage more cost-effective and easier to scale.</p>
<p>“Adding storage virtualisation directly into Adaptec’s RAID subsystems simplifies network storage management for IT managers,” said Robert N. Stephens, president and chief executive officer for Adaptec. “We’re pleased to offer more cost-effective and time-saving options for managing storage, which are core benefits of Adaptec’s end-to-end storage offering.”</p>
<p>As storage needs grow, IT managers typically expand storage space by adding multiple RAID subsystems, which make network storage more complex to manage. Elipsan’s software enables IT managers to capture all network storage capacity, physically located throughout the organisation, in a single, easy-to-manage interface.</p>
<p>By integrating Elipsan’s virtualisation and business-continuance software directly into Adaptec’s RAID subsystems, Adaptec eliminates the need for a dedicated server or expensive third-party software. The new capabilities also enable Adaptec to offer faster data backup and recovery to optimize business continuity.</p>
<p>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 through OEMs and distribution channels to enterprises, medium and small businesses and consumers worldwide. Adaptec is an S&amp;P Small Cap 600 Index member. More information is available at www.adaptec.com.</p>
<p>Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements include statements related to the consummation of a transaction. These forward-looking statements are based on current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual events and results to differ materially from those anticipated by these forward-looking statements. For more information regarding the risks facing the Company, we refer you to the Company’s periodic reports filed with the SEC, including their most recent 10-K and 10-Qs. The Company assumes no obligation to update the forward-looking information contained in this press release.
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