Hewlett-Packard Co. (HP) will acquire StorageApps Inc., a New Jersey-based enterprise storage vendor, in an all-stock transaction valued at US$350 million, the companies announced on Wednesday.
Subject to standard regulatory approval processes, StorageApps -- formerly named Raid Power Service Inc. -- will become a wholly-owned subsidiary of HP, the companies said in a statement.
HP's real target is the company's storage virtualization technology, which HP intends to feature in its so-called Federated Storage Area Management (FSAM) strategy, HP said.
The storage virtualization technology allows customers to implement and manage SANs (storage area networks) and to pool storage devices from different vendors, StorageApps and HP said.
StorageApps products include the SANLink appliance, a network storage device that integrates hardware, software and services providing connectivity for servers and storage; the SANLink Storage system, a device aimed at the enterprise market; and the SANMaster, a SAN information and monitoring system, the companies said.
In a separate interview with the IDG News Service on Wednesday, HP stressed that as part of its storage strategy, it will roll out products based on recent advances in networked storage technology. For example, starting in the first quarter of 2002, HP plans to ship a range of storage products centered around the emerging iSCSI (Internet Small Computer System Interface) standard that links data storage systems over IP (Internet Protocol).