Legato announces purchase of FullTime Software
infoworld.com
By David Pendery
InfoWorld Electric
Posted at 1:27 PM PT, Oct 28, 1998
In a deal that will help Legato Systems level the playing field with competitor Veritas Software, Legato has announced that it will acquire FullTime Software in a $69.4 million deal.
Legato will integrate FullTime clustering and high-availability software into the Legato product line following the acquisition. The use of clustering software is of growing importance to data storage management software companies.
Clustered servers accessing shared storage require increased levels of control and management, areas that companies such as Veritas and Legato are seizing upon. Veritas in September demonstrated a cluster of 32 servers and a variety of tape and disk storage arrays, linked with Veritas' high-availability software.
"FullTime Software's high-availability and clustering products will give us a market advantage in answering the data accessibility needs of our customers," said Louis Cole, president and CEO of Legato.
In the acquisition, expected to close by December, Legato will issue 1,721,000 shares of its stock in exchange for all of the stock and options of FullTime. Initial combined revenues of the two companies is estimated to be $180 million.
Legato Systems Inc., in Palo Alto, Calif., can be reached at (650) 812-6000 or www.legato.com. FullTime Software Inc., in San Mateo, Calif., is at www.fulltimesoftware.com.
David Pendery is a reporter for InfoWorld. |
