Acquisition adds to the company's storage portfolio.
Oracle, a provider of software for information management, yesterday announced that it has entered into an agreement to acquire Pillar Data Systems, a provider of SAN Block I/O storage systems that provide performance scaling characteristics with patented Quality of Service. The combination is expected to help the company deliver a complete line of storage products that runs its software faster and more efficiently.
The company says that the evaluation and negotiation of the transaction was led by an independent committee of its Board of Directors. The transaction is structured as a 100% earn-out with no up-front payment. The company does not expect that the amount of the earn-out or its potential impact will be material to its results of operations or financial position. The transaction is subject to customary closing conditions and is expected to close in July 2011.
"The acquisition of Pillar Data Systems provides Oracle with a compelling SAN storage architecture that complements our core strengths," said John Fowler, Executive Vice President of Systems at Oracle. "Customers can optimize the value of their Oracle applications, database, middleware and operating system software by running on Oracle's storage solutions."
"Pillar Data Systems has spent the last decade building truly world-class storage technologies," said Mike Workman, Chairman and CEO, Pillar Data Systems. "We are excited to benefit from the scale and reach of Oracle to help continue to build innovative and optimized storage systems."
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