ComTrade Completes Acquisition of Hermes SoftLab

HERMES SoftLab d.o.o., a software engineering services and IT solutions provider for the storage networking industry, announced its renaming to ComTrade completing the merger.

ComTrade Group is a software partner for large and emerging players in the storage industry. The company holds a presence in fourteen countries across Europe and the USA, with over 1,500 employees, 1,200 of whom are skilled software and system engineers.

ComTrade also has development campuses in Central Europe with a pool of skilled and goal-oriented engineers. ComTrade will continue to increase the R&D investment in future technologies that will become important to storage vendors over the coming years, such as the advanced data protection concepts, cloud storage and virtualization. ComTrade will also offer R&D services and top-range IT solutions with in-depth expertise in multi-vendor platforms, technologies, and tools.

Gregor Smrekar, GM at ComTrade International said: "The renaming is another step in the continual alignment of the two companies. Working with ComTrade Group has proved complementary to HERMES SoftLab’s existing technology and service solutions. Storage vendors who benefit from our extra R & D muscle can also engage with ComTrade to develop a route to market in the region."

Comments

It's an old story just ending as Hermes SoftLab shareholders accepted ComTrade Group’s acquisition offer submitted on March 18th 2008. The deal was reported to be somewhere bellow €40 million, where half of the money was supplied by ComTrade and the other half by Unicredit Bank.

Hermes SoftLab is known for its remarkable storage management software R&D lab in Ljubljana, Slovenia, that worked on HP OpenView storage software and HSM for Grau Data Storage, as well as for StorScape, a white label intelligent cloud storage client technology.