Screamers
Ancor in switch supply pact with EMC
By Debra McGarry, CBS MarketWatch
Last Update: 1:07 PM ET Apr 25, 2000 NewsWatch
EDEN PRAIRIE, Minn. (CBS.MW) -- Ancor Communications shares shot up 60 percent Tuesday after the fiber channel switch provider announced an agreement to supply its switches to EMC Corp.
Ancor Communications Inc. provides high-performance SANbox(TM) Fiber Channel switches for storage area networks (SANs). Ancor (ANCR: news, msgs) shares soared 9 7/16 to 29 1/2 on volume of 3.7 million shares.
Under the OEM agreement, Ancor will supply its SANbox 16-port fiber channel switches for use in EMC's Enterprise Storage Network.
Ancor's switches will provide customers with a way to grow very large heterogeneous SANs that can be managed with the Enterprise Storage Network.
Financial terms of the deal were not disclosed.
EMC's Enterprise Storage Network is a network that uses standard channel technology to weave together heterogeneous servers, switches and hubs into a single information infrastructure.
"Ancor's SANbox is a flexible, high-performing switch that will enable users to cost-effectively link their departmental storage area networks, bringing multiple, heterogeneous SANs under a single ESN management framework. This has long been the vision of storage area networks," said Cal Nelson, Ancor's President.
EMC Corp. (EMC: news, msgs) shares added 1 13/16 to 131 5/16 in recent trading.
Debra McGarry is an online reporter for CBS MarketWatch.
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