News
EMC Purchases CrosStor
- By Scott Bekker
- 11/01/2000
Storage monolith
EMC Corp.
announced today that it would purchase
CrosStor
Inc. CrosStor has designed filesystems and other storage related software
for nearly ten years.
The deal, valued at $300 million, was a purely stock
transaction. EMC issued shares in exchange for capital interests in CrosStor. EMC
stock rose 1.94 to 91.00 on the news.
An EMC spokesman said that EMC valued the abilities of
CrosStor’s developers, but had not current plans for releasing CrosStor
products to market. CrosStor technology would be most immediately useful in
EMC's line of Network Attached Storage products. – Christopher McConnell
About the Author
Scott Bekker is editor in chief of Redmond Channel Partner magazine.