Xyratex to Acquire Key Assets From Ario Data Networks
HAVANT, England -- Xyratex Ltd. (NASDAQ:XRTX) announced today that they have reached a tentative agreement with Ario Data Networks to acquire key Ario Data Network assets. Under the terms of the agreement Xyratex will acquire certain intellectual property, capital assets and skilled resources. Included in the acquisition is a seasoned team of professionals that have a significant amount of technical experience and development capabilities.
Ario is a highly regarded technology company that has significant experience and intellectual property in the areas of RAID, Blade and Bridge technologies. "Integration of the specific skills and IP from Ario will strengthen Xyratex's strong lineup of storage technologies and expand our resource expertise," said Todd Gresham, executive vice president, storage and network systems at Xyratex. "We look forward to welcoming those individuals from the Ario team and believe this transaction complements our global strategy to provide market leading technology solutions to our OEM customers."
The transaction is expected to close on or about December 29, 2006 and will be contingent upon a satisfactory technical evaluation and due diligence initiative, final board approval and any necessary governmental or regulatory approvals that are needed.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding future results or financial performance of Xyratex, including statements relating to the acquisition of certain assets of Ario Data Networks strengthening Xyratex's position in the storage market. Such statements are just predictions and involve risks and uncertainties such that actual results and performance may differ materially. Factors that might cause such a difference include successful integration of Ario Data Networks' assets and employees into Xyratex. These risks and other factors include those listed under "Risk Factors" and elsewhere in our Annual Report on Form 20-F as filed with the Securities and Exchange Commission (File No. 000-50799). In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.
About Xyratex
Xyratex is a leading provider of modular enterprise class data storage subsystems and storage process technology. The company designs and manufactures enabling technology that provides OEMs, Solution Integrators and disk drive manufacturers with data storage products to support high-performance storage and data communication networks. Xyratex has over 20 years of experience in research and development relating to disk drives, storage systems and high-speed communication protocols.
Founded in 1994 in an MBO from IBM, and with headquarters in the UK, Xyratex has an established global base with R&D and operational facilities in Europe, the United States and South East Asia. For more information, visit www.xyratex.com.
Ario is a highly regarded technology company that has significant experience and intellectual property in the areas of RAID, Blade and Bridge technologies. "Integration of the specific skills and IP from Ario will strengthen Xyratex's strong lineup of storage technologies and expand our resource expertise," said Todd Gresham, executive vice president, storage and network systems at Xyratex. "We look forward to welcoming those individuals from the Ario team and believe this transaction complements our global strategy to provide market leading technology solutions to our OEM customers."
The transaction is expected to close on or about December 29, 2006 and will be contingent upon a satisfactory technical evaluation and due diligence initiative, final board approval and any necessary governmental or regulatory approvals that are needed.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding future results or financial performance of Xyratex, including statements relating to the acquisition of certain assets of Ario Data Networks strengthening Xyratex's position in the storage market. Such statements are just predictions and involve risks and uncertainties such that actual results and performance may differ materially. Factors that might cause such a difference include successful integration of Ario Data Networks' assets and employees into Xyratex. These risks and other factors include those listed under "Risk Factors" and elsewhere in our Annual Report on Form 20-F as filed with the Securities and Exchange Commission (File No. 000-50799). In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.
About Xyratex
Xyratex is a leading provider of modular enterprise class data storage subsystems and storage process technology. The company designs and manufactures enabling technology that provides OEMs, Solution Integrators and disk drive manufacturers with data storage products to support high-performance storage and data communication networks. Xyratex has over 20 years of experience in research and development relating to disk drives, storage systems and high-speed communication protocols.
Founded in 1994 in an MBO from IBM, and with headquarters in the UK, Xyratex has an established global base with R&D and operational facilities in Europe, the United States and South East Asia. For more information, visit www.xyratex.com.
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