Adaptec Acquires Tricord Systems' Assets

Adaptec has acquired Tricord Systems' assets through bankruptcy proceedings. Tricord, which filed for bankruptcy in August, developed patented technology for managing scalable Network Attached Storage (NAS) systems. Tricord's technologies include the Illumina clustering software product and Lunar Flare technology. Adaptec plans to use Tricord's technology to deepen its storage products line to include file and block-based storage systems.

"Tricord's solution is a powerful extension of our [storage] vision, enabling hands-off management, fail-over capabilities, and seamless storage expansion—key capabilities for Network Attached Storage solutions," said Ahmet Houssein, vice president and general manager for Adaptec's Storage Systems Group. Adaptec will pay $2 million in cash for Tricord Systems' technology assets. The purchase should be complete this month, and will not include liabilities or customer obligations.

http://www.tricord.com
http://www.adaptec.com