Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Western Digital Acquires VeloBit; HGST To Integrate I/O Optimization Software Into Its Solid State Drive Portfolio



Western Digital Acquires VeloBit; HGST To Integrate I/O Optimization Software
                     Into Its Solid State Drive Portfolio

Software Technology Boosts Storage System Performance and Overall Solution
Value

PR Newswire

SAN JOSE, Calif. and LINCOLN, Mass., July 10, 2013

SAN JOSE, Calif. and LINCOLN, Mass., July 10, 2013 /PRNewswire/ -- Western
Digital^® Corporation (NASDAQ: WDC) has acquired privately held VeloBit, a
provider of high-performance storage I/O optimization software. VeloBit will
be fully integrated into HGST, a wholly owned subsidiary of Western Digital.
Headquartered in Lincoln, MA, VeloBit enhances storage system performance with
its software technology by adding a transparent acceleration layer utilizing
solid state drives (SSDs). Financial terms of the transaction were not
disclosed.

The acquisition builds on HGST's strategy to enhance the overall value of
datacenter storage by integrating HGST SSDs with software. VeloBit's SSD
caching software dramatically accelerates applications and increases server
density by enabling higher I/O performance, lower latency, and more efficient
usage of processor and storage resources.

Both the VeloBit acquisition and the proposed sTec acquisition by Western
Digital reflect acceleration by its HGST subsidiary in the fast growing and
strategic enterprise SSD space, augmenting its technology position and IP
portfolio with additional engineering and design resources.

"In VeloBit we saw a great team that has developed and commercialized
breakthrough I/O optimization software," said Mike Cordano, president, HGST.
"The acquisition of VeloBit is an important step in our strategy to develop
robust software capabilities to augment our successful SSD product portfolio."

"We are convinced that the best way to meet our customers' needs is to tightly
integrate storage optimization software with the hardware," said Duncan
McCallum, co-founder and CEO of VeloBit. "In HGST we have found the ideal
partner to continue to develop our ground-breaking caching, compression, and
cache coherence technology. This acquisition will enable us to continue to
expand the range of products and services we offer to our customers."

VeloBit has won multiple competitive product benchmarks in the areas of I/O
acceleration and server density optimization. VeloBit HyperCache was chosen by
Storage Magazine as a 2012 Storage Product of the Year.

VeloBit was founded in September 2010 by an experienced team of storage
industry experts and entrepreneurs to commercialize inventions in caching and
data compression. The company was funded by Fairhaven Capital and Longworth
Venture Partners.

Wells Fargo Securities, LLC has acted as the financial advisor to VeloBit in
connection with this transaction.

For more information about VeloBit, a fact sheet is available on the Western
Digital website at www.wdc.com or click here.

About Western Digital 


Western Digital Corporation (NASDAQ: WDC), Irvine, Calif., is a global
provider of products and services that empower people to create, manage,
experience and preserve digital content. Its subsidiaries design and
manufacture storage devices, networking equipment and home entertainment
products under the WD^®, HGST and G-Technology brands. Visit the Investor
section of the company's website (www.westerndigital.com) to access a variety
of financial and investor information.

About HGST

HGST (formerly known as Hitachi Global Storage Technologies or Hitachi GST), a
Western Digital company (NASDAQ: WDC), develops advanced hard disk drives,
enterprise-class solid state drives, innovative external storage solutions and
services used to store, preserve and manage the world's most valued data.
Founded by the pioneers of hard drives, HGST provides high-value storage for a
broad range of market segments, including Enterprise, Desktop, Mobile
Computing, Consumer Electronics and Personal Storage. HGST was established in
2003 and maintains its U.S. headquarters in San Jose, California. For more
information, please visit the company's website at http://www.hgst.com.

About VeloBit

VeloBit provides high-performance storage I/O optimization software that
dramatically boosts VDI and server density, accelerates applications, and
boosts database capacity  at a remarkably low cost. VeloBit uses Solid State
Disk (SSD) to create a transparent application acceleration layer that boosts
performance and capacity by up to 20x. The software installs seamlessly in 60
seconds and automatically tunes for fastest application speed. VeloBit deploys
and operates transparently to existing applications, storage, or data
management.

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These forward-looking
statements include statements concerning the anticipated benefits of the
VeloBit acquisition and management's anticipated plans and strategies for the
VeloBit business. These forward-looking statements are based on management's
current expectations and are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or implied in
the forward-looking statements, including the possibility that the expected
benefits of the acquisition may not materialize as expected; failure to
successfully integrate VeloBit's products, capabilities and employees with
HGST; and other risks and uncertainties listed in Western Digital
Corporation's filings with the Securities and Exchange Commission (the "SEC"),
including Western Digital Corporation's recent Form 10-Q filed with the SEC on
May 3, 2013, to which your attention is directed. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as
of the date hereof, and the company undertakes no obligation to update these
forward-looking statements to reflect subsequent events or circumstances.

Western Digital, WD and the WD logo are registered trademarks in the U.S. and
other countries. HGST trademarks are intended and authorized for use only in
countries and jurisdictions in which HGST has obtained the rights to use,
market and advertise the brand. VeloBit and the VeloBit logo are either
registered trademarks or trademarks of VeloBit, Inc. in the U.S. and certain
other countries. Other marks may be mentioned herein that belong to other
companies.

(Logo: http://photos.prnewswire.com/prnh/20000711/WDCLOGO)

SOURCE Western Digital Corp.

Website: http://www.westerndigital.com
Contact: HGST Media Contact, Jessica Kersey, HGST, 408.717.7924,
jessica.kersey@hgst.com, VeloBit Media Contact, Duncan McCallum, VeloBit,
Inc., 978.674.5477, duncan@velobit.com, Investor Relations, Bob Blair, Western
Digital Corp., 949.672.7834, robert.blair@wdc.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement