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For sometime, LeftHand Networks has been popping up on the radar as an iSCSI solution provider. I have written about them in past postings.. Today is was announced that HP will acquire the Boulder, CO based iSCSI software vendor for approximately $360 Million.
You can read the press release here.
HP has agreed to purchase LeftHand Networks for $360 million in cash, subject to certain purchase price adjustments.
Founded in 1999, LeftHand Networks is privately held and headquartered in Boulder, Colo. It has 215 employees and more than 500 resellers and distributors worldwide. The company has more than 11,000 installations across 3,000 different customers.
The part I find interesting, have been the other iSCSI product companies that have been brought public or have been acquired in the past year. Of course, most notable to me would be Dell’s acquisition of Equallogic for $1.4 Billion. There was a point in time that LeftHand Networks and Equallogic were considered “equal” competitors, clearly the purchase prices show that was far from the case.
I wish my friends that are at LeftHand the best of luck over the next 3 months while this deal gets closed.