Pacific Northwest Overland Storage Zetta acquired to help data system San Diego-based Overland Storage said yesterday...
San Diego-based Overland Storage said yesterday that it acquired Woodinville-based Zetta Systems for $9 million in cash.
Overland will use Zetta’s software to power a new data-storage system it is selling. Zetta’s software will help keep the storage systems up and running, while also providing some backup capabilities and storage-management tools.
For Zetta, the acquisition made sense because it will increase the number of resellers the company can access from 18 to 1,000, said Zetta’s Chief Executive Ganapathy Krishnan.
“We will do a lot more with our product, rather than have to raise venture-capital money and do it on our own,” he said.
All of Zetta’s 14 employees will join Overland Storage and remain based in Woodinville. To date, Krishnan said both he and individual investors had invested $2 million in the company.
Former Sony VP named CEO
Kirkland-based Digeo has named former Sony executive Mike Fidler as its chief executive.
Fidler most recently was senior vice president of Sony Electronics’ home-products division, and was responsible for marketing home audio and video products.
He also helped orchestrate a partnership between Sony and digital-video company TiVo.
Whirlpool / Maytag
Bid increased to $20 per share
For a second time, Whirlpool has sweetened the pot in a bid to purchase rival Maytag, submitting a $20-per-share binding offer worth $1.62 billion plus assumed debt.
The bid, a $2-per-share premium to Whirlpool’s latest offer, was presented one day before its deadline to make a firm proposal.
Whirlpool said it would pay half of the new purchase price in cash and half in stock. The company would assume $97 million in debt as part of the deal, for a total transaction of $2.6 billion.
Whirlpool’s offer was 43 percent higher than an initial bid of $14 per share, or about $1.13 billion, submitted by the investment group Triton Acquisition. Maytag’s board accepted that all-cash offer May 19 and shareholders are scheduled to vote on it Aug. 19.
Search index tops Google’s
In a major expansion, Yahoo! said yesterday that its online search-engine index now spans more than 20 billion Web documents and images, nearly double the material scanned by rival Google.
Yahoo!’s expansion doesn’t necessarily mean it produces more useful results than Google, but the breakthrough gives Yahoo! the bragging rights in a widely watched measurement for assessing the power of an Internet search engine.
Yahoo! said its index covers about 19 billion documents and 1.5 billion images. Google said it tracks 11.3 billion objects.
Compiled from Seattle Times business staff and The Associated Press