Tuesday, July 13, 2004

Adaptec to Acquire Snap Appliance for NAS

Tuesday, July 13, 2004    

Adaptec agreed to acquire Snap Appliance, a supplier of network-attached storage (NAS) solutions, for approximately $100 million. The payment includes approximately $91 million of cash and $9 million of assumed stock options. Adaptec said the acquisition is part of its strategy of delivering direct-attached storage (DAS), NAS, Fibre Channel and IP-based storage-area network (SAN) solutions from the workgroup to the data center. http://www.adaptec.com