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Tandberg Data Acquires Exabyte

  • September 01 2006, 1:00am EDT
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Tandberg Data has acquired the U.S. data storage company Exabyte Corporation for $28 million U.S. The merged company, with expected revenue of USD 215 million for 2006, will be the second largest player in data storage (OEMs not included).

Tandberg Data signed late last night an agreement to acquire all assets, rights and certain liabilities in the U.S. data storage company Exabyte Corporation. Tandberg Data pays USD 28 million which is distributed among a number of Exabyte's creditors. USD 22 million will be paid in cash at closing. The final closing of the agreement is expected to take place in the fourth quarter 2006.

Jointly, Tandberg Data and Exabyte will be able to offer a broad range of advanced storage and automation systems to small and medium-sized enterprises which want to protect ever more commercially-crucial business information. The merged company will have a strong position in Europe, the U.S. and Asia.

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