StorageCraft ramps up cloud, recovery and back-up play with acquisition
- 22 September, 2016 10:08
StorageCraft has acquired Gillware Online Backup to expand its existing cloud, recovery and back-up platform.
The acquisition follows a $US187 million investment the company received from private equity firm, TA Associates, in January this year.
StorageCraft’s acquisition of Gillware Online Backup is the latest in a series of moves that is seeing the company enhance its suite of intelligent data protection solutions, increasing its global presence and strengthening its research and development team.
While additional terms of the agreement were not disclosed, StorageCraft said the funding for the deal did not involve debt but comes from recent growth in operating cash flow.
The Gillware Online Backup solution uses analytics to identify data that should be backed up and data that should not.
StorageCraft CEO and chairman, Matt Medeiros, said the addition of an intelligent tiered data architecture provides the channel with access to mission-critical information at times when it is needed most and helps fuel its expansion plans.
“For far too long, the storage industry has promoted a one-dimensional approach of simply adding more capacity," he said.
"Organisations are finally realising that this model is obsolete since a significant portion of their costs is wasted backing up and storing irrelevant data."
Gillware Data Recovery founder and president, Wes Gill, said the acquisition builds on the partnership both companies have had for years.
“Through this partnership, we have successfully provided a combined suite of data analytics and access products, ensuring immediate recovery.
"Our team of data experts is excited to join the StorageCraft family and expand StorageCraft’s platform of products.”
As a result of the acquisition, existing Gillware and StorageCraft partners will have full access to the products via the Gillware portal now. All products will be available globally via StorageCraft’s partner portal in November.