"We really want to expand our relationship with key resellers, and to move upmarket into the entry-level enterprise space," Kelly says.
Kelly, who previously headed up the now-defunct NAS division of Maxtor Corp. (NYSE: MXO), has been in charge at Snap since its formation in mid-October 2002 (see Quantum Evicts NAS Unit and Maxtor Pulls Plug on NAS).
Actually, the genesis of Snap Appliance began a year ago. According to Kelly, he was talking to Mark Pollard, then the marketing VP at Broadband Storage, at the RBC Capital Markets conference in New York last year. "We started saying, 'The next player that's going to make a breakout in the storage arena is one that has a great brand, great technology, and great channel,' " Kelly says.
Kelly says at one point he and the Broadband Storage group considered spinning off the Maxtor NAS division to form Snap Appliance, but that ultimately Quantum's NAS group won out. "Snap had a larger installed base, deeper intellectual property, and if that didn't push you across the line there was the partnership with Quantum," he says. "It just made sense."
So far, so good: Kelly says privately held Snap's Q4 2002 revenues exceeded expectations it had given its investors by 17 percent. (However, he declines to provide sales figures.) Snap's investors include Quantum, along with Mellon Ventures Inc. and Moore Capital Management Inc., who were originally investors in Broadband Storage (see Broadband Storage Shrinks and Broadband Waltzes In).
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