HP offers $360 million for LeftHand Networks

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Acquisition will allow HP to provide midrange iSCSI solutions (Getty Images)

Hewlett-Packard has agreed to buy LeftHand Networks, a storage virtualization provider, for $360 million.

With the addition of LeftHand Networks, HP will now be able to add midrange offerings to its suite of iSCSI solutions that help protect critical business data.

iSCSI (Internet SCSI) is an IP-based standard for linking data storage devices over a network, allowing the transfer of data by carrying SCSI commands over IP networks.

HP is the second major storage vendor to make a move into the iSCSI market after Dell acquired EqualLogic earlier this year for $1.4 billion.

“The acquisition of LeftHand Networks significantly expands our storage portfolio, enabling HP to deliver customers an expanded suite of storage functionality, scalable capacity and interconnect options for every budget and performance requirement,” said Dave Roberson, senior vice president and general manager, StorageWorks Division, HP

Founded in 1999, LeftHand Networks has 215 employees and more than 500 resellers and distributors worldwide. Once the transaction is finalized, the business will be integrated into the HP StorageWorks division within the Technology Solutions Group at HP.

The acquisition, subject to certain closing conditions, should be complete by HP’s first fiscal quarter of 2009.

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