McDATA Completes Acquisition of SANavigator
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McDATA(R) Corporation this week announced it has completed its asset acquisition of SANavigator, Inc., the former storage network management software subsidiary of Western Digital Corp. With the close of this transaction, McDATA takes ownership of substantially all of the assets of SANavigator, Inc., including its SAN management software, for $29.75 million in cash.
"McDATA has taken a clear leadership position as the only company offering storage network management software that provides visibility and discovery in a multi-vendor environment," said Jack McDonnell, Chairman and CEO, McDATA. "The acquisition of SANavigator not only strengthens our current software suite but underscores our commitment to provide customers complete, best-in-class storage networking solutions."
The company expects to incur $2.5 - $3.0 million of one-time costs associated with the asset acquisition, the majority of which are expected to occur in the third quarter of 2001.