Monday, June 30, 2008

Adaptec Sells NAS Business

Milpitas-based Adaptec said today that it has sold its Snap Server NAS business to Overland Storage, in a deal worth $3.6M. According to Adaptec, the deal covers all of its brand and assets related to its Snap Server networked and desktop storage appliances, but does not include its iSCSI-based products. Adaptec said the deal will streamline the company's operations, and that it will retail ownership of its iSCSI-based hardware and software products, which will be rebranded by Adaptec. Around 50 employees of Adaptec will join Overland as part of the deal.