Exanet on Verge of Closure

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Storage co Exanet on verge of closure
The sources said that the company had one alternative to closing down: a $20 million investment led by Dell and a cooperation agreement with the computer giant.

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Founded in 2000 and shipping its first clustered NAS in 2003, Exanet received $55 million in financial funding, the last known round being $18 million in 2007 with investors including Evergreen Venture Partners, Intel Capital, Microdent, Kodak, CSK Fund (Hitachi), chairman Dr. Giora Yaron and others.

The start-up, headquartered in Israel with offices in the USA, UK, Germany, France and Japan, recently signed partnership with 3par and Atempo.

Its CEO since 2007, Mark Weiner formerly served as executive chairman of StoreAge Networking Technologies overseeing their successful acquisition by LSI Logic for $50 million in 2006. He previously hold variety of roles at NetApp over an eleven year period culminating as their EMEA VP.