Adaptec Acquires Platys Communications
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Adaptec, Inc. today announced the acquisition of Platys Communications. Adaptec says the acquisition accelerates Adaptec's ability to provide IP Storage connectivity for three key high-growth IP Storage markets, namely: SAN (iSCSI end-to-end connectivity); Switches (Fibre Channel extension and routing); and NAS (iSCSI and TCP/IP connectivity).
Platys, founded in 1997, develops and markets advanced storage networking products, including highly differentiated iSCSI ASICs, scalable to 10Gbit.
"Platys Communications has extremely impressive products, technology and people. They bring a unique combination of ASIC strengths in storage routing and iSCSI acceleration that complements the interoperability testing expertise Adaptec has been providing to early adopters of iSCSI," said Bob Stephens, president and CEO of Adaptec. "It's an exciting new development to be able to offer Adaptec customers Platys-based silicon that is scalable to 10Gbit, which we believe is well ahead of the competition. We plan to inject this technology quickly into our OEM customer base and into our RAID products."
Adaptec's acquisition of Platys Communications involves a stock and cash transaction of approximately $150 million in value, and is expected to close this quarter.