Poll indicates storage consolidation in 2005
A poll of 300 company executives and institutional investors taken this week at RBC Capital Markets Fabric Computing Forum in New York revealed that Brocade and McData are the most likely acquisition targets over the next few years. Additionally, poll respondents believe that Cisco Systems and EMC Corp. will be the most likely acquirers of companies in this market. RBC said that fabric computing -- the marriage of storage and security computing -- will continue to grow through consolidation and could also see some significant acquisitions this year.
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Maxell shipping branded Super DLTtape II media
Maxell Corporation of America announced that it is now shipping a branded Super DLTtape II media product. Maxell jointly developed the media with Quantum Corp. to support the data recording requirements of Quantum's SDLT 600 tape drive. The company said that Maxell is now the world's first qualified manufacturer and supplier of Super DLTtape II media, with the broadest line of DLTtape offerings. Super DLTtape II media optimizes the performance of the SDLT 600 tape drive, delivering a native capacity of 300 GB (600 GB with compression) and a native transfer rate of 36 MBs (72 MBs with compression).
StorCase unveils IP storage systems
StorCase, a provider of storage enclosures, and Zetera Corp., a developer of network storage technology, announced at the 2005 International Consumer Electronics Show that StorCase is launching a new family of IP storage products that use Zetera's patent-pending IP Network Storage Technology. The StorCase products incorporate redundant power supplies, multiple-gigabit Ethernet ports and removable hard drives. The Zetera technology allows the user to configure the storage array to provide a variety of information protection capabilities, including striping for faster performance, mirroring to protect data from potential drive failure and spanning to allow the creation of logical drives with unlimited storage capacity.
Brocade to restate financial results
Brocade Communications Systems Inc. announced that it expects to restate its financial statements for fiscal years ending 2002 and 2003 to record additional stock-based compensation expense as a result of an internal review. The accounting error discovered by the review was twofold in nature. First, Brocade apparently incorrectly granted stock options to employees on the date of the acceptance of an employment offer, rather than the start of their employment during the period of May 1999 to July 2000. Second, Brocade apparently incorrectly granted options to employees working in a part-time role before their promotion to full-time employment. Brocade is delaying the release of its F2004 10-K past Jan. 13, 2005, which was the due date. The company expects to report FQ2 earnings on Feb. 16, 2005. Shares of Brocade were down almost 5% Friday morning in the wake of the news.