Press Releases
Compellent Announces Resolution of Xiotech LawsuitJune 15, 2005
Minneapolis, June 15, 2005 — Compellent Technologies, a provider of modular, affordable storage solutions distributed exclusively through a select national network of business partners, today announced that the lawsuit with Xiotech has been resolved. The resolution provides a settlement of all claims brought by Xiotech against Compellent, as well as all claims brought by Compellent against Xiotech.
“Compellent is extremely pleased to announce that this lawsuit has been satisfactorily resolved,” said Phil Soran, president and chief executive officer of Compellent. “Throughout the litigation we continued to grow a base of loyal and satisfied customers and we look forward to continue focusing all of our efforts on rapidly accelerating that trend.”
Compellent was founded in early 2002 by storage area network (SAN) pioneers Phil Soran, John Guider and Larry Aszmann to develop an easier, more cost-effective way for small and midsize businesses to store, manage and recover their data.
Since its launch in February 2004, Compellent has attracted a national network of 60 business partners, more than 150 customers across a wide range of vertical markets, and widespread industry acclaim for its product’s combination of sophistication, flexibility and ease-of-use. In April 2005, Compellent secured an additional $15 million in financing led by new investor Centennial Ventures, bringing its total financing to more than $38 million.
About Compellent
Compellent delivers affordable, modular storage solutions exclusively through business partners that provide companies of all sizes enterprise storage capabilities without big system costs or complexities. For more information, visit www.compellent.com.