Compellent Issues Statement on H-P Decision to Acquire Lefthand NetworksOctober 1, 2008
EDEN PRAIRIE, Minn., Oct. 1, 2008 – Compellent Technologies, Inc. (NYSE Arca: CML) released the following statement today regarding the announcement H-P made that it intends to acquire LeftHand Networks for $360 million.
Phil Soran, president and CEO of Compellent, said:
“Enterprises of all sizes face growing data demands and increased business continuity and compliance requirements, along with the drive to conserve energy and save money in the data center. We have built Compellent’s thriving business by anticipating these needs and providing the innovation and advancements in data storage that enterprises require.
H-P’s intent to acquire LeftHand Networks, similar to Dell’s purchase of EqualLogic last November, demonstrates legacy vendors’ approach to meeting the needs of the mid-sized enterprise market: buy someone else’s technology and try to fit it into an existing product portfolio, which leads customers to a rip-and-replace strategy as they grow. While this may be easier for the vendors than developing their own scalable infrastructure, it is certainly not better for customers.”
Bruce Kornfeld, vice president of marketing, Compellent, said:
“LeftHand’s customers, prospects and channel partners are almost certainly wondering what’s next for them. There’s no doubt that this market consolidation points to the value that second-generation SAN vendors continue to bring to customers – with innovations in storage virtualization, disaster recovery, and lower total cost of ownership – and we expect that this market consolidation will enhance our ability to close more deals with end-users and the channel.”
About Compellent
Compellent is a leading provider of enterprise-class network storage solutions that are highly scalable, feature-rich and designed to be easy to use and cost effective. Compellent Technologies’ principal offices are located in Eden Prairie, Minn. For more information, please visit: http://www.compellent.com.
Contact Information:
Liem Nguyen
Compellent Technologies
952-294-2851
liem.nguyen@compellent.com
Patty Barry
Matter Communications
978-499-9250
patty@matternow.com
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