LSI Corp acquires ONStor

MILPITAS, USA: LSI Corporation, a provider of products for storage and networking markets, announced that it had signed a definitive agreement to acquire ONStor Inc. for approximately $25 million in cash inclusive of assumed debt and other net liabilities.

The transaction is expected to close within thirty days and is subject to satisfaction of customary closing conditions.

ONStor Inc., a privately held company based in Campbell, California., provides clustered network-attached storage (NAS) solutions designed to help enterprises consolidate, protect and manage the accelerating growth of unstructured data.

ONStor products include NAS gateways, NAS systems and unified storage systems sold to end users through a worldwide network of channel partners and original equipment manufacturers (OEMs).

Abhi Talwalkar, president and chief executive officer, LSI, said: "The rapid growth of unstructured data is creating significant challenges for enterprises in provisioning, protecting and managing their storage in an efficient and cost-effective manner. With the addition of ONStor products and technology, LSI will be well positioned to offer a comprehensive set of storage solutions to help enterprise customers effectively manage both their unstructured and structured data with ease."