Thursday, February 25, 2010

SGI Picks Up COPAN Systems For A Song

Fremont-based SGI has acquired storage startup COPAN Systems, a developer of long term storage archiving products, based on power managed disk drives. The deal was worth $2M, and comes after COPAN raised over $100M in funding from such backers as Westbury Partners, Austin Ventures, Globespan Capital Partners, Firstmark Capital, and Credit Suisse. SGI said it will use the acquisition to expand its storage portfolio, and will hire select COPAN employees.