History 2004: Plasmon Acquires Raidtec

Plasmon is moving to expand its line of subsystems based on UDO. This was already the case with its acquisition of HSM source code software from Grau Data Storage for €1 million.

It’s still true with the new offer to acquire NAS, SAN and RAID company Raidtec, based in Cork, Ireland for €3.4 million ($6 million).

The idea above all is to be able to offer customers a NAS before the end of the year that is based on a disk array, in front of UDO libraries, for medical applications.

Plasmon already has its own NAS known as the NetReady, but it will drop the unit in favor of Raidtec’s NAS operating system.

According to Plasmon’s CEO Nigel Street, the company has shipped 200 NAS attached libraries to date.

To finance the acquisition, Plasmon will raise €3.3 million on the London stock exchange.

For its fiscal year ended last September, Raidtec, which has existed for a dozen years, but has never quite taken off, had sales of $6.2 million for a $2 million loss, before exceptional costs.

This article is an abstract of news published on issue 196 on May 2004 from the former paper version of Computer Data Storage Newsletter.