Legato Systems, Inc. Acquires SCH Technologies
Announcement posted by Legato Systems Inc. 22 Sep 2001
Technology Acquisition to Expand Information Protection and Storage Management Solutions
Legato Systems, Inc. (NASDAQ: LGTO), the software innovator that specializes in providing solutions that protect, move and make available business-critical company information, today announced that it has signed a definitive agreement to acquire , through a $12.5 million all-cash transaction, privately-held SCH Technologies, headquartered in Cincinnati, Ohio. SCH is a software and services organization that develops and globally distributes advanced storage solutions for the open systems market. The company has Technical Development Centers in Ann Arbor, Michigan and Cincinnati, Ohio and additional sales and service offices supporting clients throughout the United States, Europe, Australia and the Pacific Rim. Further terms of the transaction were not disclosed.
Legato and SCH Technologies products and sales channels are highly complementary, said David B. Wright, CEO and chairman of the board of Legato Systems, Inc. These newly combined resources and talents will allow us to reach new customers and to expand the technologies currently offered to our customers.
The combination of SCH and Legato brings together a wealth of technological and marketing expertise that will be focused on the development of the next generation of information protection and storage management products.
I am extremely excited to be joining the Legato team, said Edward J. Bauer, current President and CEO of SCH. I am confident that the combination of Legato and SCH will provide technology resources that will greatly benefit our united customers and will provide even more robust enterprise solutions for the market.
About SCH Technologies
SCH Technologies is a storage management software and services organization that develops and globally distributes advanced solutions to the open system market. These solutions provide enterprise-class media life cycle management, and tape device and library sharing in a SAN environment. The advanced solutions provided by SCH help reduce costs by allowing customers to maximize the use of storage assets, keep track of onsite and offsite tapes, and access a consolidated view of media, device, and library usage. SCH is headquartered in Cincinnati, Ohio.
About Legato
Legato Systems, Inc. (NASDAQ: LGTO), the award winning software innovator, specializes in providing its customers with a seamless approach for protecting, moving and making available business-critical company information. Legato pioneered the industry standard for storage management software products. More than 10,000 customers, including Fortune 1000 companies, are utilizing more than 65,000 Legato software product licenses worldwide. Headquartered in Mountain View, CA, USA, Legato has an established global presence with offices in 23 countries to fully serve its customers. Legato is a founding member of the Storage Networking Industry Association. For more information on Legato Systems, Inc., its products and services visit www.legato.com.
This press release may contain forward-looking statements based on Legatos current expectations. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that might cause such a difference include, but are not limited
to, Legatos ability to close larger contracts in the challenging IT spending environment, its ability to continue to develop and update products for which there is market demand, customers' acceptance of Legatos contract terms, integration of new executives and employees, unexpected fluctuations in quarterly operating results, product concentration, competition from other companies, and rapid technological change. For a more detailed discussion of these factors, and other factors that could cause Legatos actual results to vary materially, interested parties should review Legatos filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" listed in Legatos Form 10-K for fiscal 2000 and its Form 10-Q for the first quarter of fiscal 2001. The forward-looking statements in this press release reflect the Legato's beliefs and predictions as of July 11, 2001. Legato disclaims any obligation to update these forward-looking statements as a result of financial, business or any other developments occurring after July 11, 2001.
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Legato, The Legato logo design, Legato NetWorker, Celestra, GEMS, SmartMedia and Octopus are registered trademarks and Co-StandbyServer, SnapShotServer, eCluster, wanCluster; QuikStartz and San Academy are trademarks or servicemarks of Legato Systems, Inc. All other brand and product names may be trademarks of their respective owners.
Information regarding products, services and offerings may be superceded by subsequent documents. For the latest information and specifications regarding Legato Systems, Inc. and any of its offerings or services, please contact your local sales office or the Corporate Headquarters.
Legato and SCH Technologies products and sales channels are highly complementary, said David B. Wright, CEO and chairman of the board of Legato Systems, Inc. These newly combined resources and talents will allow us to reach new customers and to expand the technologies currently offered to our customers.
The combination of SCH and Legato brings together a wealth of technological and marketing expertise that will be focused on the development of the next generation of information protection and storage management products.
I am extremely excited to be joining the Legato team, said Edward J. Bauer, current President and CEO of SCH. I am confident that the combination of Legato and SCH will provide technology resources that will greatly benefit our united customers and will provide even more robust enterprise solutions for the market.
About SCH Technologies
SCH Technologies is a storage management software and services organization that develops and globally distributes advanced solutions to the open system market. These solutions provide enterprise-class media life cycle management, and tape device and library sharing in a SAN environment. The advanced solutions provided by SCH help reduce costs by allowing customers to maximize the use of storage assets, keep track of onsite and offsite tapes, and access a consolidated view of media, device, and library usage. SCH is headquartered in Cincinnati, Ohio.
About Legato
Legato Systems, Inc. (NASDAQ: LGTO), the award winning software innovator, specializes in providing its customers with a seamless approach for protecting, moving and making available business-critical company information. Legato pioneered the industry standard for storage management software products. More than 10,000 customers, including Fortune 1000 companies, are utilizing more than 65,000 Legato software product licenses worldwide. Headquartered in Mountain View, CA, USA, Legato has an established global presence with offices in 23 countries to fully serve its customers. Legato is a founding member of the Storage Networking Industry Association. For more information on Legato Systems, Inc., its products and services visit www.legato.com.
This press release may contain forward-looking statements based on Legatos current expectations. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that might cause such a difference include, but are not limited
to, Legatos ability to close larger contracts in the challenging IT spending environment, its ability to continue to develop and update products for which there is market demand, customers' acceptance of Legatos contract terms, integration of new executives and employees, unexpected fluctuations in quarterly operating results, product concentration, competition from other companies, and rapid technological change. For a more detailed discussion of these factors, and other factors that could cause Legatos actual results to vary materially, interested parties should review Legatos filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" listed in Legatos Form 10-K for fiscal 2000 and its Form 10-Q for the first quarter of fiscal 2001. The forward-looking statements in this press release reflect the Legato's beliefs and predictions as of July 11, 2001. Legato disclaims any obligation to update these forward-looking statements as a result of financial, business or any other developments occurring after July 11, 2001.
###
Legato, The Legato logo design, Legato NetWorker, Celestra, GEMS, SmartMedia and Octopus are registered trademarks and Co-StandbyServer, SnapShotServer, eCluster, wanCluster; QuikStartz and San Academy are trademarks or servicemarks of Legato Systems, Inc. All other brand and product names may be trademarks of their respective owners.
Information regarding products, services and offerings may be superceded by subsequent documents. For the latest information and specifications regarding Legato Systems, Inc. and any of its offerings or services, please contact your local sales office or the Corporate Headquarters.