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Storage - Thursday, October 2, 2008

HP Pays $360M For SAN's Left Hand Networks

HP is buying Boulder-based LeftHand Networks for $360M in cash. In better markets, LeftHand may have gone the IPO route but this is a nice deal for the company at this time. Left Hand sells storage virtualization and iSCSI SAN gear. LeftHand software offers storage, backup, and disaster recovery. The software aggregates direct attached storage into a shared SAN. In addition, its SAN/iQ software works with virtual servers, because the product can be packaged with a virtual machine and used as a virtual storage appliance.

Founded in 1999, LeftHand says it has 11K installations and 3K customers. Lefthand competes with Dell and EMC as well as with 3PARdata, EqualLogic, Intransa, Compellent and Xiotech. In January, Dell bought EqualLogic.

LeftHand Networks has raised close to$85M from Boulder Ventures, EPIC Ventures, Garage Technology Ventures, Ironside Ventures, JPMorgan Partners, New World Ventures, Portage Venture Partners, Sequel Venture Partners, Sprout Group, Valhalla Partners and Vista Ventures.

LeftHand at VMWorld - you may get sleepy

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