EMC Purchases CrosStor
- By Scott Bekker
- November 01, 2000
Storage monolith EMC Corp.
announced today that it would purchase CrosStor
CrosStor has designed filesystems and other storage related software
for nearly ten years.
The deal, valued at $300 million, was a purely stock
transaction. EMC issued shares in exchange for capital interests in CrosStor. EMC
stock rose 1.94 to 91.00 on the news.
An EMC spokesman said that EMC valued the abilities of
CrosStor’s developers, but had not current plans for releasing CrosStor
products to market. CrosStor technology would be most immediately useful in
EMC's line of Network Attached Storage products. – Christopher McConnell
Scott Bekker is editor in chief of Redmond Channel Partner magazine.