Sun Microsystems has signed an agreement to acquire LSC, a privately held company based in Eagan, Minnesota that provides file systems and data storage software.
Under the terms of the agreement, Sun will acquire LSC in a stock-for-stock transaction worth approximately $74 million. This acquisition will be accounted for as a purchase and in-process R&D charges are expected to be immaterial.
Going forward, Sun expects the combined results of LSC and its existing storage business to be accretive to Sun’s proforma earnings. This acquisition is subject to governmental approval and the approval of LSC’s stockholders, as well as customary closing conditions.
Following completion of the acquisition, Sun plans to make LSC a part of Sun’s Network Storage organisation, led by Executive Vice President Janpieter Scheerder.
LSC provides a hierarchical data-sharing file system and storage system software designed to enable Sun’s customers to share, place, backup and archive data.
The company’s products, Storage and Archive Manager-File System (SAM-FS) and Quick File System (QFS), are storage management solutions designed to deliver automated file and media management to data intensive applications.
Last December, Sun announced its intent to acquire Marlborough, Massachusetts-based HighGround Systems, a provider of storage resource management solutions for distributed open systems environments.