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HP to Buy LeftHand

PALO ALTO, Calif. -- HP today announced it has signed a definitive agreement to acquire LeftHand Networks Inc., a leading provider of storage virtualization and iSCSI storage area network (SAN) solutions.

LeftHand Networks' solutions enable midsize companies and remote offices or branches of large corporations to easily and cost-effectively protect critical business data. HP has agreed to purchase LeftHand Networks for $360 million in cash, subject to certain purchase price adjustments.

Founded in 1999, LeftHand Networks is privately held and headquartered in Boulder, Colo. It has 215 employees and more than 500 resellers and distributors worldwide. The company has more than 11,000 installations across 3,000 different customers.

A pioneer of iSCSI SAN technology, LeftHand Networks delivers scalable storage software on industry-standard hardware that supports existing technology environments. LeftHand Networks' portfolio extends HP virtualization solutions to the midmarket with software that runs onboth existing storage and industry-standard server hardware, reducing training time and overall complexity. As a result, companies can move to a SAN for significantly lower cost, manage their data more easily, and scale their storage infrastructures incrementally as their businesses grow.

Additionally, for certain virtualized environments, LeftHand Networks' intelligent cloning technology can reduce the amount of disk space required for storage by up to 97 percent,(1) while its thin provisioning features reduce power consumption by minimizing the over-provisioning of storage.

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