HP buys virtualization storage company for $360M

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HP has signed a definitive agreement to acquire LeftHand Networks, a provider of storage virtualization and iSCSI storage area network (SAN) solutions, for $360 million, subject to certain purchase price adjustments.

With the acquisition, HP extends its portfolio of virtualization solutions to the midmarket with software that runs on both existing storage and industry-standard server hardware.

HP said that it will add midrange offerings to its suite of iSCSI solutions. Customer needs at the low end of the market will be met with the HP StorageWorks All-in-One Storage System and HP StorageWorks Modular Smart Array product lines. The high end will be addressed by the HP StorageWorks Enterprise Virtual Array line.

LeftHand Networks is privately held and headquartered in Boulder, Colo. It has 215 employees and more than 500 resellers and distributors worldwide. The company has more than 11,000 installations across 3,000 different customers, HP said.