Last week, Adaptec announced a plan to acquire Eurologic, a provider of external and networked storage solutions. Adaptec expects the acquisition to be complete by the end of April. The deal won't include Eurologic's Storage Area Network (SAN) software business, which will be divested into a separate entity to operate independently and will be called Elipsan.
Adaptec will purchase Eurologic for approximately $30 million in cash. Eurologic will be integrated into Adaptec's Storage Solutions Group. According to Adaptec, the deal will let Adaptec offer complete, end-to-end block- and file-based networked storage solutions. The deal will also open new sales channel in key industries such as medical imaging and digital media. The company expects Eurologic to contribute between $60 million and $70 million in revenue during Adaptec's next fiscal year and positively affect Adaptec's bottom line results by midyear.