MILPITAS, CA, Seagate Technology has made a strategic $40M equity investment in Virident, and will appoint one member to the Virident Board of Directors.
Seagate Technology plc (STX), a worldwide leader in storage solutions, and Virident Systems Inc., the performance leader in flash-based storage-class memory (SCM) solutions, today announced a strategic agreement to jointly deliver solutions for the growing enterprise flash storage market. Under the agreement, Seagate will immediately offer a complete line of flash-based PCIe solutions to its OEM and distribution partners. In addition, Seagate and Virident intend to leverage their mutual strengths to create next-generation hardware and software solutions for the solid-state storage market.
In conjunction with the agreement, Seagate has made a strategic equity investment in Virident, and will appoint one member to the Virident Board of Directors.
"Seagate is thrilled to team with Virident, a technology leader in one of the fastest growing markets in enterprise and cloud computing," said Gary Gentry, senior vice president and general manager, Solid State Drives at Seagate.
"Together, we are working to develop the next-generation hardware and software solutions in the PCIe space. Our solid-state strategy is founded on both in-house development and through strategic partnerships with innovative companies to deliver the broadest portfolio in the industry. We believe that this strategic agreement immediately strengthens our leading position in the enterprise storage market by adding a broad line of Seagate flash-based PCIe solutions powered by Virident to our portfolio. We look forward to a long, productive partnership with Virident."
"We are extremely pleased to have Seagate as a strategic partner and investor," said Mike Gustafson, Chief Executive Officer of Virident. "This partnership validates Virident's vision of pervasive flash in the performance tier and accelerates our shared vision by bringing next-generation SCM solutions to the enterprise and web datacenters worldwide. The agreement also expands Virident's routes to market today by making our best-in-class PCIe flash products available to Seagate's world-class channels."
Seagate is a world leader in hard disk drives, solid-state hybrid disk drives and storage solutions. Learn more at www.Seagate.com
About Virident Systems
Virident Systems is a leading provider of enterprise-class Storage Class Memory (SCM) solutions that deliver unconditional, consistent performance to data-intensive applications. The inherent advantage associated with this disruptive technology revolutionizes computing by speeding application response time and optimizing datacenter efficiency for new levels of ROI. Virident Systems is backed by strategic investors, Intel¬®, Cisco¬® Systems and a storage solution provider, as well as Hercules Technology Growth Capital and venture investors Globespan Capital Partners, Sequoia Capital, Mitsui Global Investments and Artiman Ventures. For more information, visit www.virident.com.
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