Paul Mansky, principal at research firm ThinkEquity Partners, says that Adaptec's acquisition of Eurologic would be a "natural augmentation" of its DuraStor external RAID storage line.
While Adaptec's storage systems business is "still pretty embryonic as it relates to total P&L [profit and loss]," Mansky says, "there could be some interesting possibilities with Eurologic."
Specifically, Adaptec, one of the leading suppliers of SCSI host adapters, may be looking to use Eurologic as a way to bolster its IP SAN offerings. It's worth noting that the two companies have teamed up recently for beta testing of their respective iSCSI-based products. With Eurologic, Adaptec would be able to offer its OEM partners an integrated host-to-storage IP SAN bundle (see Adaptec Details IP SAN Betas).
But both firms have been badly bruised over the past year. Adaptec last month laid off about 165 staffers, or 11 percent of its workforce, as it tries to reduce operating expenses. Eurologic has been on a downward revenue spiral for about a year, and last fall it instituted a "voluntary severance" program to cut its workforce by 20 percent, from 235 to 190 employees (see Adaptec Axes Headcount, Again and Eurologic Pares Headcount).
In another sign that Adaptec is planning to expand its networked storage offerings, it bought the assets of bankrupt NAS vendor Tricord Systems in November 2002. But it hasn't yet explained exactly what it's planning to do with this technology (see Adaptec Scrapes Up Tricord and Adaptec Acquires Tricord Assets).
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