HP Buys LeftHand Networks For $360 Million In Cash

HP today announced it has signed a definitive agreement to acquire LeftHand Networks, a provider of storage virtualization and iSCSI storage area network (SAN) solutions who recently came out with some impressive numbers.

LeftHand Networks’ solutions enable midsize companies and remote offices or branches of large corporations to easily and cost-effectively protect critical business data. HP has agreed to purchase LeftHand Networks for $360 million in cash, subject to certain purchase price adjustments.
Founded in 1999, LeftHand Networks is privately held and headquartered in Boulder, Colo. It has 215 employees and more than 500 resellers and distributors worldwide. The company has more than 11,000 installations across 3,000 different customers.
With the addition of LeftHand Networks, HP will add midrange offerings to its suite of iSCSI solutions. Customer needs at the low end of the market will be met with the HP StorageWorks All-in-One Storage System (AiO) and HP StorageWorks Modular Smart Array (MSA) product lines. The high end will be addressed by the HP StorageWorks Enterprise Virtual Array (EVA) line. Customers will further benefit since LeftHand Networks’ solutions are already certified to work with a wide range of HP products.
The transaction is subject to certain closing conditions and is expected to be completed in HP’s first fiscal quarter of 2009. Following completion, the business will be integrated into the HP StorageWorks division within the Technology Solutions Group at HP.

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