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Technology Stocks : Son of SAN - Storage Networking Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Joe Wagner who wrote (2026)	6/17/2000 7:01:00 AM
From: J Fieb	Respond to of 4808

VRST putting some $$ to work in... Veritas Takes Equity Stake In Xdrive (06/15/00, 4:04 p.m. ET) By Ken Schachter, TechWeb Finance Veritas, a maker of corporate storage-management software, has taken an undisclosed equity stake in Xdrive, a privately held Internet storage provider. The investment is the first in Veritas' $100 million strategic investment program. Xdrive, which has 2.9 million users, expects to gain greater access to the enterprise market where it offers its Xenterprise B-to-B product. Xenterprise provides businesses with Internet storage and file access. Xdrive, Santa Monica, Calif., also offers individuals 100 megabytes of free storage space on the Internet. Other investors in Xdrive include America Online (stock: AOL) and EMC (stock: EMC), the largest data-storage hardware company. The reason for Veritas' interest in Xdrive is clear, said Sarah Mattson, an analyst at Dain Rauscher Wessels. "Users and small businesses need to store and safeguard their data assets," she said. "Who is going to provide the hardware and software for these drives? From the point of view of Veritas (stock: VRTS) and EMC, it's a way for them to take their technologies to the end user."