Vision Solutions to Acquire Double-Take for $242 Million
Vision Solutions makes disaster recovery and system management software specifically for IT systems that run IBM Power servers and storage arrays. Double-Take produces software for data recoverability in Microsoft data center environments.Consolidation isn't just happening to servers and storage arrays inside the data center. It keeps making news in the data storage business overall.
Vision Solutions, which makes disaster recovery and system management software specifically for IT systems that run IBM Power servers and storage arrays, announced May 17 that it is buying Double-Take Software for $242 million in stock and cash.
The transaction, already approved by Vision's board of directors, is expected to be sanctioned by vote of Double-Take shareholders.
Under the terms of the agreement, Double-Take stockholders will receive $10.55 in cash for each share of Double-Take common stock they hold, a 21 percent increase to Double-Take's closing share price of $8.71 on April 9, 2010.
Double-Take makes software for data recoverability in Microsoft data center environments, including continuous data replication, application availability and system state protection, for Exchange, SQL and SharePoint applications in physical and virtual systems.
The Southborough, Mass.-based company has about 19,000 customers worldwide, ranging from SMBs to several Fortune 500 enterprises.
News of the merger will be of interest to thousands of IT managers worldwide who run systems using IBM hardware, software and services and Microsoft business applications.
"Double-Take has built a strong worldwide information availability business, and we are excited to have its world-class employees, customers and partners join the Vision family," said Nicolaas Vlok, president and CEO of Vision Solutions, in a prepared statement.
"With our expanded resources and scale, we will increase our ability to innovate and be the solution provider our customers can count on for their information availability needs."
Privately held Vision Solutions is owned by Thoma Bravo LLC and based in Irvine, Calif.
This storage-related acquisition is the fifth thus far this year in the industry.
In April, NetApp acquired object storage provider Bycast; in February, Iron Mountain picked up data archiver Mimosa Systems and SSD maker Micron bought Numonyx; and in January, SolarWinds acquired Tek-Tools' storage management division.