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Bocada Gets New Boss

Backup reporting vendor Bocada has a new CEO -- and an eye out for new technologies that can extend its product line.

Former marketing VP Drake Pruitt confirmed to Byte and Switch that he is taking over as CEO in a move the Bellevue, Washington-based company will likely announce Friday. He replaces Mark Silverman, Bocada's CEO since it began in 1999. Silverman remains Bocada's chairman.

Pruitt says Silverman will work on "corporate development activity," while the new CEO handles day-to-day operations. And apparently, "corporate development activity" means M&A and partnership activity.

While Bocada, like any private storage company today, is a possible acquisition target, Pruitt says it's more likely that it will acquire, or at least partner, with smaller companies to expand its product base.

"There's a lot going on in the market and a lot of tea leaves being read," Pruitt says. "We've been getting inquiries from smaller companies who realize getting to market, raising funds, and growing through their own channel is difficult if not impossible. We're going to be opportunistic about that."

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