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LSI Logic acquires StoreAge Networking Technologies

LSI Logic Corporation announced it has signed a definitive agreement to acquire StoreAge Networking Technologies Ltd. for approximately $50 million in cash.

StoreAge Networking Technologies, a privately held company based in Nesher, Israel with US offices in Irvine, California, provides SAN storage management and multi-tiered, data protection software for the enterprise.

“We are excited to add the significant capabilities of the StoreAge product portfolio to our industry-leading storage silicon, systems and software building block offerings,” said Abhi Talwalkar, LSI Logic president and chief executive officer. “We look forward to welcoming StoreAge employees and continuing to serve the needs of StoreAge channel partners and OEM customers.”

“With the rapid growth in data storage capacity, enterprise customers are seeking enhanced levels of data protection, highly effective storage management tools and reduced cost of ownership,” said Phil Bullinger, senior vice president and general manager, Engenio Storage Group, LSI Logic.

“Through the acquisition of StoreAge, we anticipate offering our OEM and channel customers a richer set of products and features that fully address these important end user requirements.”

Under terms of the agreement, LSI will acquire all outstanding StoreAge capital stock. Additionally, LSI anticipates offering employment to all StoreAge employees, who are expected to join the company’s Engenio Storage Group upon closing. The transaction is expected to close in the fourth quarter of 2006 and is subject to satisfaction of customary closing conditions.

Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.