NetApp gains an original equipment manufacturer (OEM) business that generated revenues of $705 million in 2010
BANGALORE, INDIA: NetApp announced that it has completed the purchase of Engenio external storage systems business from LSI Corporation in an all-cash deal for $480 million.
Under the terms of a definitive agreement announced on March 9, 2011, NetApp has purchased substantially all the assets of the LSI external storage systems business, which develops and delivers Engenio external storage systems products and technology.
Thus, NetApp gains an original equipment manufacturer (OEM) business that generated revenues of $705 million in 2010.
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"NetApp is excited to deliver product and technology innovations to support our OEM business partners and help them effectively meet customer demand for managing and storing critical data," said Tom Georgens, president and CEO, NetApp. "NetApp has a strong reputation as a partner-oriented company, and the OEM business is integral to our strategy to continue to generate industry-leading growth."
Rick Scurfield, vice president and general manager of NetApp’s OEM business, will oversee and manage the OEM partnerships and business globally. Juan De Zulueta, who has over 15 years of channel leadership experience and is currently a vice president in EMEA's partner organization, will become vice president of OEM business operations in EMEA. Mike Reilly will be director of OEM Field Sales for the Americas, and Bunji Kawanishi will be director of OEM Field Sales for APAC.