Mergers and Acquistions News
Categories: Telecoms
July 20th 2010, 18:22PM
Dell Inc has announced it has agreed to acquire Ocarina Networks for an undisclosed amount.
Ocarina is a California-based telecoms firm, founded in 2007, which specialises in making hardware and software aimed at reducing businesses' storage capacity.
Dell said it would not move the operation from its current base in San Jose and hoped the acquisition would enable it to invest in Ocarina's engineering and sales capabilities.
Brad Anderson, senior vice president of Dell's Enterprise Product Group, welcomed the acquisition.
"Ocarina provides an important component of our data management portfolio and our EqualLogic ecosystem to provide customers the best value for their IT investments," he said.
Ocarina chief executive officer Murli Thirumale said the takeover was "a great opportunity for the Ocarina technology, and for Ocarina customers and partners".
According to Reuters, Dell's shares rose 2.9 per cent to close at $13.44 on the Nasdaq.
The deal is expected to close by the end of July.
According to the New York Times, Dell is attempting to mimic rivals like Hewlett Packard and IBM in broadening its scope to offer data centre products.
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