Adaptec completes Snap Appliance acquisition
Adaptec Inc. has announced the completion of its acquisition of Network Attached Storage (NAS) peripheral maker Snap Appliance Inc. Adaptec first announced plans to acquire Snap Appliances earlier this month in a deal valued at US$100 million.
NAS devices are a growing segment of the enterprise market. While full-blown network servers often provide multiple capabilities like e-mail, file management and authentication services, NAS devices focus purely on file service. They've become popular options especially for small offices or companies with limited IT budgets that need shared file service but don't want a support headache.
Adaptec plans to retain the Snap Appliance brand, and former Snap CEO Eric Kelly and his senior management team will continue to manage the business. Adaptec said that a new business integration plan will be put in place over the next 60 days; the company anticipates that the Snap Appliance acquisition will generate more than $40 million in new revenue over the next year.