Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: J Fieb who wrote (21627)	5/3/1999 10:05:00 AM
From: Lhn5	Respond to of 29386

HP Acquires Transoft Networks to Extend Leadership in Enterprise-Storage Market PALO ALTO and SANTA BARBARA, Calif.--(BUSINESS WIRE)--May 3, 1999-- Move Will Enable "Stress-Free" Configuration and Management of Open-systems Shared Storage Area Network Environments Hewlett-Packard Company and Transoft Networks, Inc. today announced that they have signed a definitive agreement for HP to acquire Transoft. This move strengthens HP's leading position as a global, total-solution provider of storage area network (SAN) technology and will provide customers with enhanced capabilities to manage heterogeneous SAN environments. The companies did not disclose financial terms of the agreement. Transoft Networks, is the world's leading provider of open-systems Fibre Channel SAN solutions for heterogeneous Windows NT(R) and UNIX(R) system clustered servers and workstations in the enterprise and visual computing markets. The company pioneered SAN Manager(TM), a software product that enables IT professionals to manage clusters of Fibre Channel attached storage in a highly efficient manner. SAN Manager allows heterogeneous or homogeneous systems to easily manage a common pool of storage devices on a SAN, providing customers with high availability, scalability and ease of management in their server environments. "We believe that users should be able to configure and manage their SAN environments seamlessly, regardless of what platforms they have in place," said Marilyn Edling, general manager of HP's Enterprise Storage Business Unit. "This acquisition provides HP with an unprecedented capability to deliver that heterogeneous management capability to customers. The integration of Transoft's product lines with HP storage products will enhance IT professionals' ability to capture, store, share, manage and access data from anywhere at any time." "Our agreement with HP enables rapid expansion in our business," said Michael Klein, president and chief executive officer of Transoft Networks. "HP's leading position in the storage market gives our technology the visibility and reach that it couldn't have on its own. And HP's financial strength will give us the opportunity to continue our leading technical innovation in the SAN market." Most of Transoft's 60 employees are expected to be integrated into HP's Enterprise Storage Business Unit. The acquisition is expected to become final this month. Transoft's operations will continue under the HP brand name in the Santa Barbara area. Information about HP's Enterprise Storage Solutions can be found on the World Wide Web at hp.com. About Transoft Networks Transoft Networks, Inc., is the world's technology and market leader in the rapidly growing market for open systems, hardware independent SAN management software for heterogeneous Windows NT and UNIX servers and workstations. Founded in 1992, Transoft pioneered open systems SAN management software. In 1998, Transoft was named to both the Inc. 500 and Software 500. www.transoftnetworks.com About HP Hewlett-Packard Company -- a leading global provider of computing and imaging solutions and services for business and home -- is focused on capitalizing on the opportunities of the Internet and the proliferation of electronic services. HP had computer-related revenue of $39.5 billion in its 1998 fiscal year. HP plans to launch a new company ("NewCo") consisting of its industry-leading test-and-measurement, components, chemical-analysis and medical businesses. These businesses represented $7.6 billion of HP's total revenue in fiscal 1998. With leading positions in multiple market segments, this technology-based company will focus on high-growth opportunities such as communications and life sciences. HP has 122,800 employees worldwide and had total revenue of $47.1 billion in its 1998 fiscal year. Information about HP, its products and the company's Year 2000 program can be found on the World Wide Web at hp.com. Windows NT is a U.S. registered trademark of Microsoft Corp. UNIX is a registered trademark of The Open Group. CONTACT: Cunningham Communication, Inc. for HP Jenny Shelton, 650/858-3778 jshelton@ccipr.com or Transoft Networks, Inc. Elizabeth Narmore, 805/884-9114 enarmore@transoftnetworks.com To edit your profile, go to keyword NewsProfiles. For all of today's news, go to keyword News.