Adaptec sells Snap Server networked, desktop storage appliances business to Overland Storage
MILPITAS, Calif. (AP) --
MILPITAS, Calif. (AP) --
Data storage provider Adaptec Inc. said Monday it sold its Snap Server networked and desktop storage appliances business to Overland Storage Inc. for $3.6 million.
Adaptec will retain ownership of all iSCSI-based hardware and software products and assets, which will be rebranded and managed by Adaptec.
Adaptec will retain ownership of all iSCSI-based hardware and software products and assets, which will be rebranded and managed by Adaptec.
"The sale of the Snap Server business allows us to focus on strengthening our leadership position in the Unified Serial RAID controller business, leverage our iSCSI assets and continue to streamline the company's operations," said S. Sundaresh, president and chief executive of Adaptec, in a statement.
Overland Storage will take control of all existing Snap Server networked and desktop storage appliance assets including licenses, patents and existing product inventory, and assume customer support obligations.
About 50 Adaptec workers will receive offers to join Overland Storage effective immediately, and will remain in the same facility in Milpitas, Calif., which Overland is subleasing from Adaptec.
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