Hewlett-Packard Scoops Up Transoft Networks
On May 14, 1999, Hewlett-Packard Company (NYSE: HWP) acquired Transoft Networks, Inc. Transoft is the world's leading provider of open-systems Fibre Channel SAN solutions for heterogeneous Windows NT and UNIX system clustered servers and workstations in the enterprise and visual computing markets. The company's software product SAN Manager enables IT professionals to manage clusters of Fibre Channel attached storage in a highly efficient manner. SAN Manager allows heterogeneous or homogeneous systems to easily manage a common pool of storage devices on a SAN. The users are able to configure and manage their SAN environments seamlessly, regardless of what platforms they have in place.
Our agreement with HP enables rapid expansion in our business, says Michael Klein, president and CEO of Transoft Networks. HP's leading position in the storage market gives our technology the visibility and reach that it couldn't have on its own HP's financial strength will give us the opportunity to continue our leading technical innovation in the SAN market. The integration of Transoft's product lines with HP storage products will enhance an IT professional's ability to capture, store, share, manage and access data from anywhere at any time.
Transoft's operations will continue under the HP brand name in Santa Barbara, California. Kline Hawkes invested $3.5 million in Transoft and the Fund has realized an IRR in excess of 90%.(Please see our list of Portfolio Companies inside)