Wasabi For Sale

Wasabi Systems, in iSCSI SAN appliances, will pursue the sale of the company’s assets. Wasabi has retained Strategic Advisory Services International, LLC as its financial advisor.
 
Wasabi is targeting strategic acquirers who can take advantage of both the iSCSI SAN products that are shippable today and the next generation object based storage device (OSD) products. Although the company discontinued operations in 2009, a small group of former staff members have continued to support the code and a small number of existing customers. Both the Storage Builder iSCSI SAN software and the VMX iSCSI SAN appliances are available to ship upon demand. This affords a nearly instant entry into the growing IP-SAN marketplace under very economical terms. Former staff members have expressed an interest in continuing to support and develop the software for someone who purchases the assets.
 
Assets for sale include:
 
Commercially ready products:

• Wasabi Storage Builder v5.0 iSCSI SAN software
• Wasabi VMX Series iSCSI SAN appliances

Commercially ready components:

• NetBSD OS with various drivers and tools
• Software RAID stack (RAID 0, 1, 5, 10, 50)
• iSCSI software stack for HBAs

Technology in process:

• Wasabi OSD software stack
• Wasabi OSD related patent pending (filed late 2008)

Company background:
Wasabi has been a pioneer in developing network storage solutions designed to simplify the storage and retrieval of digital data over Ethernet networks. The company has traditionally offered software products that enable iSCSI SANs under private label agreements through OEMs. In early 2009, Wasabi introduced a line of fully integrated iSCSI SAN appliances targeting the SME segment and the video storage market. The company was also working with a top tier OEM in the data storage space who was co-funding the development of Wasabi’s next generation object based storage device (OSD) product. The partner was also committed to supporting the company in its 2009 product launch and go-to-market strategy. However, due to substantial market driven cutbacks related to the 2008/2009 financial downturn, the partner was forced to defer its support. As a result, the company lacked the growth capital and major industry support necessary to bring the technology to market on its own. In mid 2009, the company discontinued operations