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Archive for October 2nd, 2008

HP Will Acquire LeftHand Networks for $360 Million

As the world awaited the congressional vote on the Wall Street bailout bill Wednesday, Hewlett-Packard moved forward with business as usual. The company signed a definitive agreement to acquire LeftHand Networks, a storage virtualization and iSCSI storage area network (SAN) firm.HP agreed to pay $360 million in cash for LeftHand Networks, which sells solutions to help midsize companies and remote offices of large corporations protect critical business data.

Customers need a faster, less complex, and more economical route to storage networking to protect critical business data, according to Dave Roberson, senior vice president and general manager of HP’s StorageWorks Division.

“The acquisition of LeftHand Networks significantly expands our storage portfolio, enabling HP to deliver customers an expanded suite of storage functionality, scalable capacity, and interconnect options for every budget and performance requirement,” Roberson said. “With our strong channel and leading position in the industry-standard server market, we are ideally positioned to deliver this technology to customers worldwide.”

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October 2nd, 2008