Investment Company Backs Fibrenetix Growth Plans20 October 2005
UK-based Nairn Investments, a specialist technology investment company, has backed the ambitious global growth plans of European storage pioneer Fibrenetix with the announcement of a 30% equity acquisition agreement.
As part of the deal, Irish businessman Hans O’Sullivan, one of the best-known faces in the storage world, will join the Fibrenetix board.
The move comes eighteen months after Jes Nagel, Fibrenetix founder and CEO secured ‘substantial’ EU funding for the development of the company’s northern Spain-based manufacturing and assembly plant – and just weeks after the launch of the group’s USA subsidiary in Silicon Valley, California.
Said Nagel: “We are poised for dramatic growth in coming months. The launch of our San Jose office is a major springboard in our global expansion plans – and this latest announcement brings one of the storage world’s major players to our boardroom.
Hans O’Sullivan brings priceless knowledge and experience to the table - and his role is to look closely at strategy and corporate direction.”
O’Sullivan (47), who is well-known in the storage industry as founder/CTO of Eurologic and founder/CEO of Elipsan, plans to help guide Fibrenetix is through corporate growing pains by focusing on product innovation and specific target markets.
He said: “I am delighted to take up this advisory role on the Fibrenetix board. Jes Nagel is very good at spotting opportunities and trends. He is something of a visionary in the storage world following his pioneering work with IDE RAID. The real challenge for a small company as it grows is to maintain tight controls without killing off innovation and I think it’s going to be an exciting time at Fibrenetix in coming years.”
Further information:
Trevor Lansdown at wordengineers.com:
T: +44 (0) 1206 241575)
Or
Mandy Stone at Fibrenetix
T: +44 (0) 1293 400515
Fibrenetix Online: http://www.fibrenetix.com
About Fibrenetix
FIBRENETIX is the market leader for cost effective storage systems. Recognised in the storage industry since 1995, the Company has established a solid reputation for fast, scalable and highly reliable storage solutions.
Fibrenetix has successfully developed a series of high performance, cost effective RAID subsystems. With over 5000 RAID systems installed, in over 17 different countries, Fibrenetix is recognised as a pioneer of IDE and cost effective RAID.
Fibrenetix offer a comprehensive product range, with storage capacity ranging from 800GB in a 5-bay desktop tower unit, to 8 Terabytes in a single 16-bay, 3U rackmount enclosure using 500GB hard drives. The company’s largest single installation is currently 1000 Terabyte’s of storage for a power utility corporation.
Fibrenetix is dedicated to providing new cutting edge products, customer support and reliability, to meet the ever-growing demand for data storage.
Source: PrWeb
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