NetApps completes Spinnaker buy

BANGALORE: Network Appliance, Inc. has completed the acquisition of Spinnaker Networks, Inc., a privately held company based in Pittsburgh, Pennsylvania. Under the terms of agreement announced in November 4, 2003, Network Appliance acquired Spinnaker Networks for approximately $300 million in an all-stock transaction and will operate Spinnaker Networks as part of its engineering organization.

"The synergy between Network Appliance and Spinnaker Networks expands our competitive edge and leadership position in bringing Storage Grid architectures more rapidly to the market," said Dan Warmenhoven, CEO of Network Appliance. "By capitalizing on each company's strengths, we can provide next-generation highly scalable solutions that help enable tighter application integration, provide superior data protection, and manage data resources more efficiently as customers increase their demands on networked storage."






Ron Bianchini, former president, CEO, and cofounder of Spinnaker, will be vice president and general manager of Spin Operating Systems and Gateway Business at Network Appliance and will continue as the leader of the Network Appliance Pittsburgh Technology Center.





CIOL Bureau