Infrant Technologies is Acquired by Netgear
The California-based storage technology firm Infrant Technologies was purchased by networking stalwart Netgear, the companies announced Thursday. The deal is for $60 million in cash, plus the possibility of an additional $20 million to Infrant shareholders should the combined company reach specific revenue goals.
Infrant, which was founded in 2001, is probably best known for its ReadyNAS networked-storage products.
In the deal, Netgear will acquire the Infrant name, all of its patents and technologies, as well as 34 employees. Infrant president and CEO Paul Tien, as a result of the purchase, will become vice president and general manager for storage products for Netgear.