NetApp Completes Acquisition of Akorri Networks, Inc
Sunnyvale, Calif.-February 1, 2011
-NetApp (NASDAQ: NTAP) today announced that it has
completed the acquisition of Akorri Networks, Inc., a privately
held company headquartered in Littleton, Massachusetts. Under terms
of the definitive agreement, NetApp acquired Akorri in an all-cash
transaction for approximately $60 million.
- Akorri has gained significant market momentum, growing its
customer base by more than 100% in 2010 by serving the needs of
enterprises adopting and expanding their use of server
- Gartner, Inc. positioned Akorri in the Visionaries quadrant and
NetApp in the Leaders quadrant for Storage Resource Management and
SAN Management Software. The combination of Akorri and NetApp is
expected to provide customers the industry's leading capabilities
for storage management and analytics.
- Akorri extends the NetApp® OnCommand® management
software suite with performance capacity analytics and optimization
for greater visibility across the entire IT stack, including
applications, servers, networks, and storage.
- Akorri's flagship software, BalancePoint, helps customers
identify performance bottlenecks; improve storage capacity
planning; and free up the time, people, and budget resources needed
to run virtual environments.
- BalancePoint complements NetApp SANscreen® to help
customers further improve IT efficiency and flexibility through
functions that help control, automate, and analyze their
virtualized, shared IT infrastructures.
- NetApp provides the most comprehensive storage software
management tools for customers to automate and analyze shared IT
infrastructures, reduce the risks and costs of deploying
virtualization, efficiently deliver on service levels, and respond
to rapidly changing business needs.
BalancePoint is available immediately through existing Akorri
channel partners. Customer pricing is available from those
partners. For a complete list of Akorri reseller partners, visit
BalancePoint will also be available through all NetApp channel
partners during NetApp's first fiscal quarter of 2012.
NetApp creates innovative storage and data management solutions
that deliver outstanding cost efficiency and accelerate business
breakthroughs. Discover our passion for helping companies around
the world go further, faster at www.netapp.com/it/.
NetApp, the NetApp logo, Go further, faster,
OnCommand, and SANscreen are trademarks or registered trademarks of
NetApp, Inc. in the United States and/or other countries. All other
brands or logos are trademarks of their respective owners and
should be treated as such.
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements include the anticipated
benefits to be obtained from NetApp's acquisition of Akorri,
including Akorri product capabilities and compatibility. These
forward-looking statements involve risks and uncertainties, and
actual results could vary. Factors that could affect our ability to
achieve our goals include our ability to successfully integrate
Akorri's operations and products with our own; the future success
of both companies' product lines; general economic and industry
conditions, including expenditure trends for storage-related
products; our ability to deliver new product architectures and
products that meet market acceptance; our ability to design
products that compete effectively from a price and performance
perspective; and other important factors as described in NetApp
reports and documents filed from time to time with the Securities
and Exchange Commission.
Gartner, Inc. Magic Quadrant for Storage Resource Management and
SAN Management Software, Valdis Filks, Robert E. Passmore,
September 21, 2010.