Friday, December 8, 2006

Network Appliances Completes Topio Acquisition

Sunnyvale-based Network Appliance said today that it has completed its acquisition of Santa Clara-based Topio. The deal, which was originally announced in early November, was worth $160M in cash. Topio's software is used for remote replication of storage, and is used by customers for disaster recovery and backup, data migration, and protection over long distances. NetApp said Topio will become a new Data Replication business unit within NetApp. Topio also maintains research and development in Haifa, Israel, where it will continue to operate. Topio was backed by Sequoia Capital, Sigma Partners, and Star Ventures.