NetAPP (Nasdaq: NTAP) has agreed to acquire Onaro Inc., a Boston-based provider of enterprise storage software. No financial terms were disclosed, but TechCrunch puts the price-tag at $120 million. Onaro has raised around $10 million in VC funding from Newbury Ventures and Cedar Fund.
PRESS RELEASE
NetApp (NASDAQ:NTAP) today announced a definitive merger agreement to acquire Onaro, a privately owned company headquartered in Boston, Mass. Onaro's software, deployed in 32% of Fortune 50 companies, allows enterprises to manage storage with the highest possible data availability at a fraction of normal operational costs. The combination of NetApp and Onaro will help enterprise organizations increase data center and storage network efficiencies by proactively managing and optimizing storage service levels for availability and performance in dynamic data center environments. The predictive nature of Onaro products also makes them ideally suited for modeling and forecasting data center and service-level changes
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.