Technology Fund Invests in Gadzoox Networks
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Storage Area Network (SAN) vendor Gadzoox Networks Inc., today announced that it has closed on the sale of $14.8 million of common stock in a transaction led by the Galleon Group, a technology and healthcare fund.
According to the company, the Galleon Group is focused on the technology and healthcare industries, with specific expertise in the SAN market, and currently manages over $5.0 billion in equity funds.
"The Galleon Group is a prominent fund in the technology sector and invests in companies with attractive long-term growth prospects," said Michael Parides, President and CEO, Gadzoox Networks. "We are pleased to be among a group of select storage networking companies in Galleon's technology portfolio."