Bangers and mash, Big Ben and…data storage management?
There is storage news from across the pond. Computer Network Technology Corp. (CNT), Minneapolis, Minn., announced on Monday that it has acquired London-headquartered BI-Tech Solutions, a privately held, provider of storage management solutions and services.
The deal cost CNT $12 million in cash, plus the assumption of approximately $3.6 million of liabilities and the acquisition of approximately $8.7 million of tangible assets. The agreement also includes an incentive payout, estimated to be approximately $15 million, based upon earnings over the next two years.
CNT, which is best known for its storage networking gear and specialization in IP-based storage area networks, has been beefing up its storage portfolio recently, which is built around data availability and management, business continuance and disaster recovery.
With the acquisition, CNT gains BI-Tech's family of integrated storage solutions including consulting, implementation, managed services, hardware and software. CNT also acquires BI-Tech's employees, with operations in the United Kingdom and Sweden.
CNT's President and CEO, Tom Hudson, said that the end result of the deal is that CNT becomes a stronger enterprise networking company.
BI-Tech was founded in --> 98 and focused on designing,
CNT said it plans to keep the BI-Tech name and operate BI-Tech as a separate subsidiary.
CNT said it plans to augment existing service offerings including, SAN assessments, integration, network management services and data migration services.
CNT began growing its services organization three years ago when it expanded into the Northeast region of the United States with the acquisition of Articulent in April 2001.Let us know what you think about the story, e-mail Kevin Komiega, News Writer
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