Wednesday, September 7, 2011

BlueArc Acquired By Hitachi Data Systems

San Jose-based BlueArc, the developer of network storage systems, has been acquired by storage giant Hitachi Data Systems, HDS said today, in an all-cash deal. Exact financial terms of the were not disclosed by HDS. The acquisition comes as BlueArc was poised for an IPO, having filed for a public offering in June. BlueArc was venture backed by Meritech Capital Partners, Crosslink Capital, Investor Growth Capital, and Morgenthaler Venture Partners. HDS was advised by Wells Fargo Securities in the deal, with BlueArc advised by BofA Merrill Lynch and Credit Suisse.