AMCC buys 3Ware for US$150m
AMCC buys 3Ware for US$150m
Storage vendor Applied Micro Circuits Corporation (AMCC) announced that it has signed a definitive agreement to acquire fellow storage vendor 3ware. 3ware provides Serial ATA (SATA) storage solutions for emerging storage applications such as disk-to-disk backup, near-line storage, network-attached storage (NAS), video, and high-performance computing.
The transaction is expected to close early next month. The boards of directors of both AMCC and 3ware have approved the acquisition agreement.
"One of the fastest growth segments in storage today is SATA RAID, and 3ware has achieved significant market penetration with a switched architecture that delivers performance, scalability and the economy of SATA," said Dave Rickey, Chairman, President and CEO of AMCC. "3ware's customers and channel relationships complement our existing small and medium business Fibre Channel Host Bus Adapter (HBA) strategy, while extending our reach into the direct-attached (DAS) and network-attached storage (NAS) segments of the industry."
"AMCC's semiconductor leadership and its Fibre Channel SAN expertise from the recent acquisition of JNI allow us to broaden our market opportunity by leveraging valuable intellectual property and infrastructure," said Faye Pairman, President and CEO of 3ware. "Combining with AMCC will enable us to accelerate our complementary product roadmaps and penetration into higher-end storage applications."
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