SAN JOSE, Calif., Jan. 9, 2012 (GLOBE NEWSWIRE) -- OCZ Technology Group, Inc. (Nasdaq:OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced it has acquired SANRAD Inc., a privately held provider of flash caching and virtualization software and hardware.
"This transaction is an important step in OCZ's enterprise solid state drive strategy," said Ryan Petersen, CEO of OCZ Technology Group. "It significantly enhances the ability for customers to increase datacenter performance and efficiency by putting more virtual machines (VM) on a server without slowing down the VM's ability to access stored data, thus substantially lowering the overall cost of deployment. SANRAD's VXL has the ability to optimize caching strategies based on the application and support for VMware's vMotion, which sets the solution apart from others in the industry, allowing enterprises to finally realize the benefit of running a single unified virtualized environment," concluded Mr. Petersen.
"SANRAD's software is a wonderful complement to OCZ's Flash technology," said Oded Ilan, CEO of SANRAD Inc. "We are excited with the opportunity created by this unique combination between storage virtualization, caching and PCIe Flash storage. We are proud to join the OCZ development team and to establish its design center in Israel."
SANRAD was founded in 2000 and its R&D center is based in Tel Aviv, Israel. SANRAD currently sells its line of flash caching and virtualization software and hardware to storage and networking OEMs such as NEXSAN and Brocade as well as directly to the enterprise through its network of Value Added Resellers.
SANRAD transforms storage access in virtualized environments with NAND flash. Its technology allows data centers to fully leverage their flash based storage investments, extending the lifespan of the storage infrastructure and maximizing efficiency. Virtualized data centers gain the benefits of NAND flash performance while retaining the key benefits of server virtualization such as vMotion, high availability, and disaster recovery.
SANRAD's virtualization software and solutions are VMware, Microsoft, and Citrix certified and are expected to accelerate the adoption of OCZ's PCIe-based flash storage solutions in virtualized environments. These solutions include:
SANRAD's VXL software delivers SANRAD's flash caching and virtualization technology for VMware vSphere, Microsoft Hyper-V and Citrix Xen into server virtualization platforms. VXL software enables efficient dynamic distribution of host-based flash resources to guest virtual machines via its application optimized cache engine. The VXL SCSI connectivity enables support of most modern operating systems including all variants of Windows, FreeBSD, Solaris and Linux servers, in contrast to other caching solutions which require an installation of an agent or driver on each VM.
VXL supports key enterprise-class storage datacenter requirements such as QoS, high availability clustering, mirroring, WAN replication, snapshots and multiple storage virtualization functions. Unlike many other virtualization and caching algorithms, VXL guarantees complete cache migration via vMotion, as cached data is treated as a virtualized storage entity and can be dynamically migrated between ESX servers along with the virtual volumes without performance loss and without powering down the server, interrupting service of the VMs.
SANRAD's StoragePro software provides comprehensive remote storage management and virtualization services and ensures simple, efficient use of storage resources for numerous connected servers. Its open, heterogeneous system architecture provides complete storage flexibility, enabling IT managers to manage a single virtual pool of storage which is critical in today's enterprise environments.
The aggregate purchase price of the acquisition was $15 million comprised of approximately 2.1 million shares of OCZ common stock that was issued on closing.
Merriman Capital, Inc., a wholly-owned subsidiary of Merriman Holdings, Inc. (OTCQX:MERR), served as OCZ's exclusive financial advisor for the transaction.
About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (OCZ), is a leader in the design, manufacturing, and distribution of high performance and reliable Solid-State Drives (SSDs) and premium computer components. OCZ has built on its expertise in high-speed memory to become a leader in the enterprise and consumer SSD markets, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). SSDs are faster, more reliable, generate less heat and use significantly less power than the HDDs used in the majority of computers today. In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products as well as leading-edge computer gaming solutions. For more information, please visit: www.ocztechnology.com.
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About SANRAD
SANRAD designs cutting-edge cloud storage acceleration and virtualization software and hardware for datacenters. SANRAD's virtualization software and solutions transforms storage access in virtualized environments with NAND flash allowing data centers to fully leverage their storage investments. SANRAD's products are VMware, Microsoft, and Citrix certified. For more information, please visit: www.sanrad.com.
Forward Looking Statements
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of OCZ Technology Group, Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "would," "expect," "anticipate," "should" or other similar words and phrases often identify forward-looking statements made on behalf of OCZ. It is important to note that actual results of OCZ may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, the acquired software and solutions are expected to accelerate the adoption of OCZ's PCIe-based flash storage solutions in virtualized environments; market acceptance of OCZ's products and OCZ's ability to continually develop enhanced products; adverse changes both in the general macro-economic environment as well as in the industries OCZ serves, including computer manufacturing, traditional and online retailers, information storage, internet search and content providers and computer system integrators; OCZ's ability to efficiently manage material and inventory, including integrated circuit chip costs and freight costs; and OCZ's ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs. Other general economic, business and financing conditions and factors are described in more detail in "Item 1A -- Risk Factors" in Part I in OCZ's Annual Report on Form 10-K filed with the SEC on May 17, 2011, and amended on May 31, 2011, and statements made in other subsequent filings. The filing is available both at www.sec.gov as well as via OCZ's website at www.ocztechnology.com. OCZ does not undertake to update its forward-looking statements.