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.
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.
Inc. Magic Quadrant for Storage Resource Management and SAN
Management Software, Valdis Filks, Robert E. Passmore, September