Meanwhile, McData will get Nishan, founded in October 1998, for a relative bargain. Over the past year or so, Nishan's VCs were said to be shopping the company, approaching potential suitors that included Brocade Communications Systems Inc. (Nasdaq: BRCD), but ultimately could not negotiate a buyout that would give them a return on their overall investment.
The long list of investors in Nishan includes Altos Ventures, ComVentures, Dell Computer Corp. (Nasdaq: DELL), Discovery Ventures, Lightspeed Venture Partners, Raza Foundries, Siemens AG (NYSE: SI; Frankfurt: SIE), Sofinnova Ventures Inc., Sun Microsystems Inc. (Nasdaq: SUNW), and QTV Capital.
Nishan's family of IP storage switches -- which have been certified by several major storage vendors, including EMC Corp. (NYSE: EMC), Hewlett-Packard Co. (NYSE: HPQ), Hitachi Data Systems (HDS), and IBM Corp. (NYSE: IBM) -- connect Fibre Channel SANs with IP networks, and have had the most success in disaster-recovery deployments.
McData said the acquisitions of Sanera and Nishan are expected to close within two months. The Sanera closing is subject to regulatory approvals, and both transactions are subject to certain customary closing conditions.
Todd Spangler, US Editor, Byte and Switch
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