Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 243
Dealipedia - Veritas Capital acquires Ejasent

Veritas Capital acquires Ejasent for $59 million

Deal Participants:
Acquiring Company: Veritas Capital View Profile Add Homepage Google Search
[x]
Enter Homepage URL http://
Target Company: Ejasent View Profile Add Homepage Google Search
[x]
Enter Homepage URL http://
Deal Financials:
Price: $59 million
 
Date:
Announced: Jan 07, 2004

PRESS RELEASE

VERITAS Acquires Ejasent, Inc.; Extends Utility Computing Strategy
Wednesday January 7, 8:30 am ET
Technology Enables Live Migration of Mission Critical Applications Between Servers, Dramatically Improving Availability and Reducing Cost

MOUNTAIN VIEW, Calif., Jan. 7 /PRNewswire-FirstCall/ -- VERITAS Software Corporation (Nasdaq: VRTS - News), the leading storage software provider, today announced it has reached a definitive agreement to acquire Ejasent, Inc., a Mountain View, Calif.-based supplier of application virtualization technology for utility computing, in an all cash transaction valued at $59 million. VERITAS expects the acquisition to be completed by the end of January 2004.

Ejasent's application virtualization technology provides VERITAS with another key building block to enable utility computing. The company's core software, UpScale(TM), offers the ability to move an application from one server to another without disrupting or terminating the application. UpScale software takes a snapshot of an application and its state, preserving all its current settings and data, and transfers it to a different server in near real time. Ejasent places very little overhead in the application environment allowing its use for even the most demanding, mission critical applications. Ejasent UpScale offers IT managers the ability to significantly reduce the time and resources required for planned periodic upgrades and application maintenance for IT managers, while virtually eliminating associated application down-time for end-users.

"Simplifying the management of IT infrastructure that is 'always on' for end-users is a fundamental objective of utility computing. Ejasent's technology adds another key building block to the VERITAS portfolio," said Mark Bregman, executive vice president of product operations, VERITAS Software. "Live application migration can cut server maintenance and upgrade time from hours to minutes, freeing valuable IT resources to work on other projects while at the same time improving application availability for end-users."

The Ejasent UpScale system introduces an abstraction layer between applications and the underlying server and operating system. This abstraction layer makes it possible to simply and quickly move applications across different processing resources within a data center -- from server to shared storage to server.

Upon the completion of the acquisition, Ejasent will become part of VERITAS' High Availability/Clustering group.

"The Ejasent team is pleased to be joining with VERITAS to accelerate the delivery of advanced utility computing technologies," said Rajeev Bharadhwaj, co-founder and chief technology officer, Ejasent, Inc. "Ejasent's application virtualization technology is highly complementary to VERITAS' products, and it will become an important building block as VERITAS enables utility computing."

Ejasent's other core product, MicroMeasure(TM), enables usage-based metering and billing of physical and logical data center assets, including servers, storage and application transactions by specific users and departments. Upon completion of the acquisition, VERITAS plans to integrate MicroMeasure software into the VERITAS CommandCentral(TM) Service product, further enhancing service level reporting across the enterprise.

VERITAS expects to deliver UpScale and MicroMeasure software in the second quarter of 2004. UpScale will be available initially on Solaris, with a Linux version set for release in early 2005. MicroMeasure runs on Solaris, Windows, Linux and HP-UX.

About Ejasent, Inc.

Founded in January 1999, Ejasent supplies software and technology to leading product and services companies delivering utility computing solutions to enterprises and IT services providers. The company has 13 patents pending on core technologies for building IT infrastructures that enable utility computing. Ejasent is a privately-held company based in Mountain View, Calif. Investors in Ejasent include Crescendo Ventures, Technology Crossover Ventures, Red Rock Ventures, and Crystal Internet Ventures. For more information, visit www.ejasent.com.

About VERITAS Software

With revenues of $1.5 billion in 2002, VERITAS Software ranks among the top 10 software companies in the world. VERITAS Software is the world's leading storage software company, providing data protection, storage management, high availability, application performance management and disaster recovery software to 99 percent of the Fortune 500. VERITAS Software's corporate headquarters is located at 350 Ellis Street, Mountain View, Calif., 94043, tel: 650-527-8000, fax: 650-527-8050, e-mail: vx-sales@veritas.com, Web site: www.veritas.com.

This press release may include estimates and forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties, including the risk that we will not maintain market acceptance of our products and services and the risk that we will not be able to maintain or increase the quality of our end-user customer and partnering relationships that could cause the actual results we achieve to differ materially from such forward-looking statements. For more information regarding potential risks, see the "Factors That May Affect Future Results" section of our most recent report on Form 10-K and Form 10-Q on file with the SEC. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.

NOTE: VERITAS, the VERITAS Logo, CommandCentral, and all other VERITAS product names and slogans are trademarks or registered trademarks of VERITAS Software Corporation. VERITAS and the VERITAS Logo Reg. U.S. Pat. & Tm. Off. MicroMeasure and UpScale are trademarks or registered trademarks of Ejasent, Inc. in the U.S. and other countries. Other product names and/or slogans mentioned herein may be trademarks or registered trademarks of their respective companies.

Banking Representation:
(add missing info)  
Legal Representation:
(add missing info)  
Who Made the Money?:
Name

Title
Shares (mm)
Ownership
Cost Basis

Amt (mm)
Net (mm)
Info missing?
Add it!
Edit History:

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746
Dec 05 '07
This version submitted by SamBartolone

 

Top