Crossroads Completes Acquisition of Polaris Communications, Boosts Enterprise SANs Capabilities.Business Editors & High Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--March 22, 2000 In a move that boosts its capabilities in enterprise storage area networks (SANs), Crossroads Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CRDS CRDS Contribution pour Le Remboursement de la Dette Sociale (French: Social Debt Repayment Contribution) CRDS Cavity Ring-Down Spectroscopy CRDS Community Rehabilitation and Disability Studies ), the leading developer and manufacturer of storage routers for use in Fibre Channel SANs, today announced it has completed the acquisition of Polaris Communications of Portland, Ore. On Feb. 3, 2000, Crossroads announced the execution of a definitive agreement to acquire Polaris Communications, a privately held designer, developer and marketer of S/390 mainframe communication interfaces and systems. This acquisition adds another set of protocols to Crossroads' storage routing capabilities and will further Crossroads' commitment to interoperability between the many S/390 components and open-systems SANs. The S/390 market is a key strategic growth area for Crossroads, and this acquisition will enable Crossroads to bring its open system SAN expertise to larger enterprise systems where over 70 percent of the world's data is stored. Polaris Communications' technologies deliver increased connectivity and bandwidth options to enterprise data centers, focusing on high-speed connections between open systems and mainframes. Crossroads will utilize Polaris Communications' expertise and experience to deliver high-speed data connections between Fibre Channel SANs and ESCON (Enterprise Systems CONnection) An IBM S/390 fiber-optic channel that transfers 17 Mbytes/sec over distances up to 60 km depending on connection type. ESCON allows peripheral devices to be located across large campuses and metropolitan areas. and future FICON (FIber CONnector) An IBM mainframe channel introduced with its G5 servers in 1998. Based on the Fibre Channel standard, it boosts the transfer rate of ESCON's half-duplex 17MB/sec to a full-duplex 100MB/sec. technologies in enterprise data center environments. For the past 10 years, Polaris Communications has been delivering new channel-based solutions, custom products and integration services that have consistently met customer and partner requirements while delivering measurable value. Their products significantly improve throughput performance of all data management operations such as data warehousing See data warehouse. data warehousing - data warehouse , backup and recovery, and data consolidation. Polaris Communications' quality products will complement Crossroads' industry-leading open-systems SAN solutions, such as LAN-free backup A LAN-free backup is a backup of server data to a shared, central storage device without sending the data over the local area network (LAN). It is usually achieved by using a storage area network (SAN). , a storage solution enabled by Crossroads' storage router that delivers improved backup/restore capacities and provides centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. data protection. In connection with the acquisition, Crossroads will issue 450,000 shares of its common stock for all of the outstanding stock and options of Polaris Communications. The transaction will be accounted for as a purchase. About Crossroads Systems, Inc. Headquartered in Austin, Texas, Crossroads Systems (NASDAQ:CRDS) is the leading provider of storage routers for Fibre Channel Storage Area Networks (SANs). Crossroads' storage routers enable key intranet, Internet and e-commerce applications. By using storage routers and SANs, customers can more effectively and efficiently store, manage and ensure the integrity and availability of data in the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . Crossroads supplies its customers with the Crossroads Verified SAN (CV-SAN) solution guide to simplify SAN design and installation, accelerate SAN adoption, and verify interoperability of SAN solutions. The more than 3,000 verified configurations in CV-SAN are available on the Web using the Crossroads online configurator at www.crossroads.com. Industry leading OEMs such as ADIC, ATL (Active Template Library) A set of software routines from Microsoft that provide the basic framework for creating ActiveX and COM objects. Stemming from the standard template library (STL) that comes with C++ compilers, ATL includes an object wizard that sets up , Bull, Compaq, Dell, Exabyte, Hewlett-Packard, Hitachi Data Systems See HDS. , McDATA, Fujitsu-Siemens and StorageTek as well as top resellers and distributors including Acal Electronics, Bell Microproducts, Cranel, Datalink, ITIS ITIS Integrated Taxonomic Information System ITIS International Trade Institute of Singapore ITIS Integrated Transport Information System ITIS International Tourism Institute ITIS International Trade Information Service ITIS Information Technology Insurance Specialists Services, nStor, Pinacor, Polaris Services and Vangard Technology have partnered with Crossroads to provide these solutions to their customers. For more information on Crossroads Systems, its products or employment opportunities, please call 800/643-7148 or visit www.crossroads.com. Forward-Looking Statements: This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: Crossroads' limited operating history which makes it difficult to accurately predict revenues and budget for expenses for future periods; the extent of Crossroads' future operating losses and negative cash flow; the dependence of Crossroads' business on the storage area network market which is new and unpredictable; Crossroads' ability to develop new and enhanced products that achieve market acceptance; the continuation of Crossroads' successful relationships with its limited number of OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers; Crossroads' ability to retain and recruit key personnel to manage its business successfully; the quarterly fluctuations of Crossroads' operating results; Crossroads' ability to integrate or successfully achieve the benefits of the acquisition of Polaris Communications and any subsequent acquisition or strategic relationship; and that Crossroads' stock price could be volatile regardless of Crossroads' actual financial performance and other factors detailed in Crossroads' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Quarterly Reports on 10-Q. |
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