Calif. - March 31, 2003 - Adaptec, Inc. has reached a definitive
agreement to acquire Eurologic Systems.
builds on Adaptec's leadership in direct-attached server storage by allowing the
company to provide complete, end-to-end block- and file-based networked storage
solutions. Adaptec expects the acquisition to be completed in April 2003. Prior
to the acquisition, Eurologic divested its SAN software business into a separate
entity, which will continue to operate independently.
Adaptec will acquire Eurologic as a cash purchase for approximately
$30 million and will incorporate the company into Adaptec's Storage Solutions
Group. Adaptec will assume all customer and supplier agreements and will serve
Eurologic customers through its offices worldwide. The acquisition will provide
Adaptec with access to new sales channels and open new opportunities in key
industries such as medical imaging and digital media.
"We expect Eurologic will contribute between $60 million and $70
million in revenue during Adaptec's next fiscal year, and provide a positive
impact on our bottom line results by mid-year," said David A. Young,
the Republic of Ireland|
In the 1990's Sun Microsystems
didn't have much of a direct presence in Ireland and instead used the services
of Horizon Open Systems which acted in effect as Sun's country distributor and
waved the flag for Sun products.
In about 1995 Horizon acquired the
assets of a UK Sun VAR called American Systems & Parts, based in Richmond,
Surrey and used this to launch a bridgehead into the UK.
coincidentally, during the first few years while they were setting up that
operation my wife, who runs her own marketing services company called
Downes Strategic Marketing
helped implement their direct mail programmes. Their newsletters were always
packed full of information about new systems from Sun, and were often better
than the equivalent newsletters put out by Sun themselves.
Horizon poached Sun's UK channel manager Peter Deane, who became their UK
managing director. Within a few years, Horizon had became one of the biggest
Sun VARs in the UK.
This just goes to show that a lot more good things
come out from Ireland than their famous liquid exports, and it's worth keeping
an eye on what goes on there from the technology and VAR channel point of view,
even if you're not resident in the Emerald Isle.