NetApp to Acquire Akorri Networks, Inc.
SUNNYVALE, Calif.-January 12,
2010-NetApp (NASDAQ: NTAP) today announced that it has
entered into a definitive agreement to acquire Akorri Networks,
Inc., a privately held company headquartered in Littleton,
Massachusetts, in an all-cash transaction.
- Akorri was founded in 2005 and is a leading provider of data
center management software focused on performance capacity
analytics for virtualized, shared IT infrastructures.
- Akorri enables customers to identify performance bottlenecks
and improve storage capacity planning to free up the time, people,
and budget resources that are needed to run virtual
- Akorri has gained significant market momentum, growing its
customer base by more than 100% in 2010. Customers rely on Akorri
to reduce the risks and costs of deploying virtualization with an
integrated management approach across the entire IT stack,
including applications, servers, networks, and storage.
- Akorri has received numerous awards and accolades, including
The Wall Street Journal's list of the Top 50
Venture-Backed Companies with the most potential to become "the
next big thing," and Gold in the 2009 Storage
magazine-SearchStorage.com Product of the Year awards for Storage
- The acquisition is expected to close early in NetApp's fourth
fiscal quarter, subject to the satisfaction of customary closing
conditions. The terms of the deal are not being disclosed at this
Portfolio and Go-to-Market
- Together, NetApp and Akorri will provide customers with
comprehensive tools to automate and analyze their shared IT
infrastructures, efficiently deliver on service levels, and respond
to rapidly changing business needs.
- 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 NetApp® OnCommand™ with performance
capacity analytics to provide customers greater visibility across
the entire IT stack. As a result, customers can further improve IT
efficiency and flexibility through functions that help control,
automate, and analyze their shared IT infrastructure.
- NetApp provides Akorri immediate enterprise credibility with
the industry's storage platform of choice for building an efficient
and flexible shared IT infrastructure as the foundation for cloud
- NetApp gives Akorri the ability to reach enterprise customers
and service providers to accelerate adoption and success of its
products around the world.
- Manish Goel, executive vice president, Product
"The ability to accurately predict and manage performance and
capacity requirements has been a common obstacle for many customers
wanting to transition to a virtualized environment. Akorri further
strengthens NetApp's data management capabilities to achieve
greater quality of service and performance in their virtual and
cloud environments. With these enhanced capabilities, customers can
accelerate their transition to a shared IT infrastructure so that
they can use IT as a tool to capitalize on new growth opportunities
and spend fewer resources managing their environments."
- Rich Corley, Founder, CTO, and vice president of
"Akorri and NetApp share a common vision of a dynamic IT
infrastructure that is tightly integrated and highly efficient.
Akorri has emerged as a leader in performance management software
by providing greater visibility and insight across the entire IT
stack. Customers are thinking differently and choosing NetApp today
as they transition to a shared IT infrastructure. The combination
of our two companies will provide our customers the most
comprehensive tools to plan for change and growth in their
Akorri develops cross-domain analytical software solutions that
optimize performance and utilization in the dynamic data center.
BalancePoint virtual infrastructure management software provides
automated, infrastructure-wide visibility and analysis to help
enterprises fix problems, optimize utilization, and improve
performance for both virtual and physical servers and storage. IT
organizations use BalancePoint to reduce IT infrastructure total
cost of ownership and ultimately enable a service-oriented
infrastructure. For more information, visit www.akorri.com.
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.
020 7268 3437
NetApp, the NetApp logo, Go further, faster, and OnCommand are
trademarks of NetApp, Inc. 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,
anticipated go-to-market synergies, and the expected timing of the
completion of the acquisition. 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.
Inc. Magic Quadrant for Storage Resource Management and SAN
Management Software, Valdis Filks, Robert E. Passmore, September