HOPKINTON, Mass. April 18, 2003 ? EMC Corporation (NYSE: EMC) today announced the acquisition of Astrum Software Corporation, a privately held supplier of storage resource management (SRM) software for multi-platform, mid-tier storage environments. The acquisition includes approximately 30 employees and Astrum Software's portfolio of storage management software. Financial terms of the acquisition were not disclosed.
Boston-based Astrum Software is the ninth software acquisition completed by EMC since the beginning of 2000 and expands on the company's portfolio of industry-leading SRM software, which is the fastest-growing segment of the overall storage management software market. Astrum Software, whose products are optimized for automated file management, file-level reporting and capacity utilization in small and medium networked storage environments, will strengthen EMC's ability to address a full range of automated networked storage requirements.
Erez Ofer, EMC's Executive Vice President, Open Software Operations, said, "Astrum Software will help us provide our mid-tier customers with a more comprehensive view of their storage resources and further simplify the implementation and management of networked storage. The addition of Astrum Software's technology and talented storage software team will widen the options available to customers running storage networks of varying sizes."
EMC also announced today that it will continue Astrum Software's existing OEM relationship with Overland Storage (NASDAQ: OVRL), a provider of storage management software solutions. "EMC's selection of this technology is a big win for Overland Storage, EMC and Astrum Software customers," said John Cloyd, Vice President and General Manager of the Storage Management Business Unit at Overland Storage, Inc. "The greater technical and financial resources EMC will bring to bear on the future development of Astrum Software's solutions promise a bright future for our customers and partners."
About EMC
EMC Corporation (NYSE: EMC) is the world leader in information storage systems, software, networks and services, providing automated networked storage solutions for organizations across the globe. Information about EMC's products and services can be found at www.EMC.com.
This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) the transition to new products, the uncertainty of customer acceptance of new product offerings, and rapid technological and market change; (iv) insufficient, excess or obsolete inventory; (v) competitive factors, including but not limited to pricing pressures; (vi) component quality and availability; (vii) the relative and varying rates of product price and component cost declines; (viii) war or acts of terrorism;
(ix) the ability to attract and retain highly qualified employees; (x) fluctuating currency exchange rates; (xi) risks associated with strategic investments and acquisitions; and (xii) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission.
For more information:
Bennis Porter Novelli
Berith Selling
telefoon: 020-543 76 00 / mobiel: 06-54 921 019
e-mail: bselling@bennispn.nl