Features - Financial Plays Of The Week:

ADAPTEC CLOSES ACQUISITION OF ELIPSAN

Adaptec Inc, a global leader in storage solutions, has completed the purchase of Elipsan Limited, a network storage software provider. Adaptec purchased Elipsan for $19.5 million in cash. Elipsan's storage-virtualization software enables Adaptec to make storage more cost-effective and easier to scale.

"Adding storage virtualization directly into Adaptec's RAID subsystems simplifies network storage management for IT managers," said Robert N. Stephens, president and chief executive officer for Adaptec. "We're pleased to offer more cost-effective and time-saving options for managing storage, which are core benefits of Adaptec's end-to-end storage offering."

As storage needs grow, IT managers typically expand storage space by adding multiple RAID subsystems, which make network storage more complex to manage. Elipsan's software enables IT managers to capture all network storage capacity, physically located throughout the organization, in a single, easy-to-manage interface.

By integrating Elipsan's virtualization and business-continuance software directly into Adaptec's RAID subsystems, Adaptec eliminates the need for a dedicated server or expensive third-party software. The new capabilities also enable Adaptec to offer faster data backup and recovery to optimize business continuity.