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 virtualization technology.
•Gartner, Inc. positioned Akorri in the Visionaries quadrant and NetApp in the Leaders quadrant for Storage Resource Management and SAN Management Software.1 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.
Availability and Pricing
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 www.akorri.com/partners-channel-partners.htm. By NetApp’s first fiscal quarter of 2012, BalancePoint will also be available through all NetApp channel partners.
•To learn more about the importance of performance capacity planning, provisioning, and monitoring in a secure multi-tenant and ITaaS environment, read Val Bercovici’s blog at http://blogs.netapp.com/exposed.
•To read more about what the acquisition means to NetApp’s virtualization portfolio, see Vaughn Stewart’s blog at http://blogs.netapp.com/virtualstorageguy.
•Additional details on the NetApp acquisition of Akorri can be found in the January 12, 2011, initial acquisition press release.
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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.
1 Gartner, Inc. Magic Quadrant for Storage Resource Management and SAN Management Software, Valdis Filks, Robert E. Passmore, September 21, 2010.