Press Release: October 01, 2008
Topics:

HP Acquires LeftHand Networks to Extend Leadership in Storage and Virtualization Solutions

PALO ALTO, Calif. -- HP today announced it has signed a definitiveagreement to acquire LeftHand Networks Inc., a leading provider ofstorage virtualization and iSCSI storage area network (SAN)solutions.

LeftHand Networks’solutions enable midsize companies and remote offices or branchesof large corporations to easily and cost-effectively protectcritical business data. HP has agreed to purchase LeftHand Networksfor $360 million in cash, subject to certain purchase priceadjustments.

Founded in 1999, LeftHandNetworks is privately held and headquartered in Boulder, Colo. Ithas 215 employees and more than 500 resellers and distributorsworldwide. The company has more than 11,000 installations across3,000 different customers.

A pioneer of iSCSI SANtechnology, LeftHand Networks delivers scalable storage software onindustry-standard hardware that supports existing technologyenvironments. LeftHand Networks’ portfolio extends HPvirtualization solutions to the midmarket with software that runson both existing storage and industry-standard server hardware,reducing training time and overall complexity. As a result,companies can move to a SAN for significantly lower cost, managetheir data more easily, and scale their storage infrastructuresincrementally as their businesses grow.

Additionally, for certainvirtualized environments, LeftHand Networks’ intelligent cloningtechnology can reduce the amount of disk space required for storageby up to 97 percent,(1) while its thin provisioningfeatures reduce power consumption by minimizing theover-provisioning of storage.

In addition, LeftHandNetworks also features advanced data replication technology withbandwidth management and failover protection. This makes it idealfor backup and disaster recovery operations between remote officesand a central location.

With the addition ofLeftHand Networks, HP will add midrange offerings to its suite ofiSCSI solutions. Customer needs at the low end of the market willbe met with the HP StorageWorks All-in-One Storage System (AiO) and HP StorageWorks Modular Smart Array (MSA) product lines. Thehigh end will be addressed by the HP StorageWorks Enterprise Virtual Array (EVA) line. Customerswill further benefit since LeftHand Networks’ solutions are alreadycertified to work with a wide range of HP products, including HP ProLiant servers, HP BladeSysteminfrastructure, HP ProCurveNetworking and HP Insight Control management software.

“Customers need a faster,less complex and more economical route to storage networking tobetter protect their critical business data,” said Dave Roberson,senior vice president and general manager, StorageWorks Division,HP. “The acquisition of LeftHand Networks significantly expands ourstorage portfolio, enabling HP to deliver customers an expandedsuite of storage functionality, scalable capacity and interconnectoptions for every budget and performance requirement. With ourstrong channel and leading position in the industry-standard servermarket, we are ideally positioned to deliver this technology tocustomers worldwide.”

“Joining with HP is anatural fit for our customers and channel partners, giving them anexpanded portfolio of server, storage and networking products andservices that are already supported by LeftHand Networks’solutions,” said Bill Chambers, chief executive officer, LeftHandNetworks. “The combination of LeftHand Networks’ virtualizationtechnologies with HP’s has the power to significantly accelerateserver consolidation projects by making the deployment of sharedstorage much easier and more cost-effective.”

The transaction is subjectto certain closing conditions and is expected to be completed inHP’s first fiscal quarter of 2009. Following completion, thebusiness will be integrated into the HP StorageWorks divisionwithin the Technology Solutions Group at HP.

More information about HPStorageWorks is available at www.hp.com/go/storage.

About LeftHandNetworks

Founded in 1999, LeftHandNetworks pioneered IP-based storage area networks (SANs). SANsbuilt using LeftHand Networks’ SAN/iQ® software are uniquely ableto distribute and protect data across a cluster ofindustry-standard storage servers. The company’s patentedarchitecture increases data availability, allows users to startsmall and grow the SAN seamlessly, and simplifies management. TheLeftHand SAN is ideal for storage and server consolidation,multi-site SANs and disaster recovery. LeftHand SANs are availablein the United States, Canada and throughout Europe. For moreinformation, contact LeftHand Networks at info@lefthandnetworks.com.


(1) Based onpreliminary findings with two hundred 10 GB intelligent cloningvolumes.


This news releasecontains forward-looking statements that involve risks,uncertainties and assumptions. If such risks or uncertaintiesmaterialize or such assumptions prove incorrect, the results of HPand its consolidated subsidiaries could differ materially fromthose expressed or implied by such forward-looking statements andassumptions. All statements other than statements of historicalfact are statements that could be deemed forward-lookingstatements, including the expected benefits and costs of thetransaction; management plans relating to the transaction; theexpected timing of the completion of the transaction; anystatements of expectation or belief; and any statements ofassumptions underlying any of the foregoing. Risks, uncertaintiesand assumptions include the possibility that expected benefits maynot materialize as expected; risks related to the timing orultimate completion of the transaction; and other risks that aredescribed in HP’s Quarterly Report on Form 10-Q for the fiscalquarter ended July 31, 2008 and HP’s other filings with theSecurities and Exchange Commission, including but not limited toHP’s Annual Report on Form 10-K for the fiscal year ended October31, 2007. HP assumes no obligation and does not intend to updatethese forward-looking statements.

© 2008Hewlett-Packard Development Company, L.P. The information containedherein is subject to change without notice. The only warranties forHP products and services are set forth in the express warrantystatements accompanying such products and services. Nothing hereinshould be construed as constituting an additional warranty. HPshall not be liable for technical or editorial errors or omissionscontained herein.


Editorial contacts:

Jason Treu, HP: jason.treu@hp.com

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