SGI Buys Assets of COPAN Systems
SGI Expands Storage Portfolio with High Performance Persistent Data Platform
Fremont, Calif. - SGI (NASDAQ: SGI), a global leader in HPC and data center solutions, today announced the purchase of substantially all the assets and assumption of a limited number of liabilities of COPAN Systems, Inc., a provider of high performance storage archive solutions for real-time access to long-term persistent data.
SGI acquired the assets with the goal of expanding SGIís storage portfolio to include a highly scalable, energy efficient enterprise Massive Array of Idle Disks (MAID) platform. COPAN storage solutions are designed to allow customers to access Disk-to-Disk and Virtual Tape Library (VTL) capabilities for cost-effective management of large data environments.
ďI am delighted to welcome COPANís employees and customers to SGI,Ē said Mark J. Barrenechea, SGI CEO. ďThe need for real-time access to long-term persistent data is expected to continue to expand. This acquisition will allow SGI to participate directly in this market.Ē
With the acquisition, SGI will be able to offer an expanded portfolio of purpose-built, innovative, massively scalable high performance storage products. Specifically, with the COPAN platform, SGI will be able to offer new storage technologies that target Persistent Data storage. The platform is designed to allow customers to decrease the cost and complexity of storing and managing extensive volumes of long-term information in data-rich organizations.
COPANís assets were purchased in a private foreclosure sale from COPANís secured creditors. The purchase price was approximately $2 million in cash. SGI did not assume any debt of COPAN in the acquisition and assumed a limited number of liabilities. COPANís offices in Longmont, Colorado, will be retained, and SGI intends to hire select COPAN employees.
For more information on SGI COPAN products, please visit www.sgi.com/copan.
SGI is a global leader in large-scale clustered computing, high performance storage, HPC and data center enablement and services. SGI is focused on helping customers solve their most demanding business and technology challenges. For more information on SGI, please visit www.sgi.com.
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