Network Appliance Offers Strongest Security Option in the Industry with Completion of Acquisition of Decru
Sunnyvale, CA - August 29, 2005 -
Network Appliance, Inc. (NASDAQ:NTAP), the leader in advanced
networked storage solutions, today announced that is has completed
the acquisition of Decru, a privately held company based in Redwood
City, California. Under the terms of the definitive agreement
announced June 16, 2005, Network Appliance acquired Decru for
approximately $260 million in cash and stock1. Decru is
a clear market leader in storage security, helping enterprise and
government customers address requirements including regulatory
compliance, privacy, secure consolidation, and outsourcing. Decru
DataFort™ appliances protect the core of the storage network
by seamlessly inserting a layer of data encryption, authentication,
key management, and compartmentalization. Decru products and
solutions are immediately available from NetApp.
"Our enterprise customers, particularly those
in government, financial services, and telecommunication markets,
are extremely focused on data protection and security. Data theft
and corruption have made a tremendous impact on businesses and
consumers; as a result, information risk management has emerged as
a top priority at the executive level," said Dan Warmenhoven, CEO
of Network Appliance. "With the acquisition of Decru, NetApp is in
a unique position to help customers address these risks with
leading products that deliver simplicity, flexibility, and
performance. As partners, NetApp and Decru have already built a
successful track record of solving tough customer problems - as a
combined team, I'm confident we can help a much broader set of
customers address these challenges head on."
As Warmenhoven continued, "We want to
reiterate to our customers and the industry that Decru will
continue to work closely with the major storage and networking
vendors. Our intent is to operate Decru as a separate business unit
so it can collaborate with a broad range of partners on a business
and technical level, while maintaining the confidentiality of their
data and intellectual property. Our customers need security
solutions to integrate seamlessly across heterogeneous
environments, and Decru is the industry's only unified storage
security platform that can deliver on this requirement."
Additional details on the NetApp acquisition
of Decru can be found in the initial acquisition press release from
June 16 available online at
About Network Appliance
Network Appliance is a world leader in unified storage solutions
for today's data-intensive enterprise. Since its inception in 1992,
Network Appliance has delivered technology, product, and partner
firsts that simplify data management. Information about Network
Appliance™ solutions and services is available at
1Made up of $54.5 million in
cash and 8,765,848 NetApp shares.
"Safe Harbor" Statement under U.S.
Private Securities Litigation Reform Act of 1995
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 the Company's acquisition of Decru and anticipated customer,
market, and industry acceptance. These forward-looking statements
involve risks and uncertainties, and actual results could vary.
Factors that could impact our ability to achieve our goals include
our ability to successfully integrate Decru's operations and
products with 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 Network Appliance, Inc.'s reports and documents filed
from time to time with the Securities and Exchange Commission,
including our most recently submitted 10-K and 10-Q.
Network Appliance, Inc.
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Network Appliance, Inc.