With $572 million in cash on its balance sheets, who might it look at? During the earnings call and during its analyst day in December, Adaptec executives talked about adding replication, snapshots, data classification, and policy-based movement.
Vendors that fit into that category and might be on the block include Arkeia, Arkivio, Atempo, BakBone Software, FilesX, Mendocino Software, Njini, Seven Ten Storage, Scentric, and Signiant.
Sundaresh says Adaptec's future products will enhance its current offerings, such as the Snap NAS platform and OnTarget software for building IP SANs. (See Adaptec Launches Software and Isilon Moves Down, Adaptec Moves Up.) The long-term goal is to build a NAS and iSCSI storage business around small to medium-sized enterprises, he says.
While Adaptec's RAID controller business still makes up 80 percent of its revenue, and it is looking to cash in on the emergence of Serial-Attached SCSI (SAS), its long-term strategy clearly hinges on software acquisitions.
"We like the new management and strategy but 2007 remains an investment year," Needham & Co. analyst Glenn Hanus wrote in a research note today. "Since [parallel] SCSI still represents the majority of business, offsetting its decline with new business in SATA/SAS and Snap to achieve overall revenue growth remains challenging."
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