DataDirect Networks Stages Bid to Acquire Tintri’s Assets
SANTA CLARA, Calif., July 10, 2018 -- DataDirect Networks (DDN), a leading big data storage supplier to data-intensive, global organizations, today announced that it has entered into a non-binding letter of intent agreement with Tintri, Inc. (Tintri) to acquire substantially all the assets of Tintri.
Deployed in thousands of data centers in healthcare, energy, manufacturing, financial services, academia and research, DDN’s data storage offerings have long been a solution of choice for organizations with demanding on premise and hybrid cloud needs. DDN’s recent acquisition of Intel’s Lustre file system business added the world’s most advanced file system technology to DDN’s already substantial flash, analytics and cloud product portfolio.
“DDN is working with Tintri’s co-founders, team members, advisors and creditors to develop a winning plan designed to provide Tintri’s customers with continuity in support of their installed base as well as a winning roadmap for their long-term requirements,” said Alex Bouzari, DDN CEO and Co-Founder. “Tintri’s industry leading all flash scale out and automation enterprise storage solutions have been successfully deployed in more than a thousand companies, including 20 of the Top Fortune 100. They are essential tools to help organizations build agile development environments for cloud native applications and run mission-critical enterprise applications better than ever before.”
The proposed transaction would enhance DDN’s portfolio by adding best in class enterprise virtualization, real time analytics and VM automation to its family of high performance scalable storage solutions.
DataDirect Networks (DDN) is a leading big data storage supplier to data-intensive, global organizations. For 20 years, DDN has designed, developed, deployed and optimized systems, software and storage solutions that enable enterprises, service providers, universities and government agencies to generate more value and to accelerate time to insight from their data and information, on premise and in the cloud. Organizations leverage the power of DDN storage technology and the deep technical expertise of its team to capture, store, process, analyze, collaborate and distribute data, information and content at the largest scale in the most efficient, reliable and cost-effective manner. DDN customers include many of the world’s leading financial services firms and banks, healthcare and life science organizations, manufacturing and energy companies, government and research facilities, and web and cloud service providers. For more information, go to www.ddn.com or call 1-800-837-2298.
Tintri (NASDAQ: TNTR) offers an enterprise cloud infrastructure built on a public-cloud like web services architecture and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds—to build agile development environments for cloud native applications and to run mission-critical enterprise applications. Tintri enables users to guarantee the performance of their applications, automate common IT tasks to reduce operating expenses, troubleshoot across their infrastructure, and predict an organization's needs to scale—the underpinnings of a modern data center. That's why leading cloud service providers and enterprises, including Comcast, Chevron, NASA, Toyota, United Healthcare and 20 percent of the Fortune 100, trust Tintri with enterprise cloud. For more information, visit www.tintri.com and follow us on Twitter: @Tintri. Tintri has used, and intends to continue to use, its Investor Relations website and the Twitter account of @Tintri as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.