Serene Investment Management Acquires Nexsan
StorCentric company filing for Chapter XI on July 2022
This is a Press Release edited by StorageNewsletter.com on March 21, 2023 at 2:02 pmSerene Investment Management LLC announced the acquisition of Nexsan, a StorCentric, Inc. company that has been delivering highly-reliable, cost-effective storage solutions to serve specific use cases and business demands for over 20 years.
With the acquisition, Serene has restructured the management of StorCentric’s companies which includes Nexsan. It has assembled a team of technology executives to manage the business and continue to deliver value in the marketplace through marquee Nexsan enterprise storage products that include Unity, E-Series, BEAST Elite, and Assureon Data Vault.
“We’re excited about Serene Investment’s acquisition of Nexsan and the entire StorCentric family of companies,” explains Dan Shimmerman, Nexsan CEO. “Serene’s new ownership has provided vital capital that positions Nexsan for continuous growth and success. Our focus on innovating and delivering reliable, cost-effective, and high-performing data storage solutions for enterprise businesses is now stronger than ever.”
As part of the acquisition, Serene has retained experienced Nexsan professionals to maintain key institutional knowledge and ensure a seamless change in ownership. At the forefront of the new management is the commitment to continue servicing Nexsan’s customers, end-users, partners, and vendors.
Comments
Serene Investment Management is an investor never involved in storage and this operation is essentially a financial investment.
On its side, Nexsan has a turbulent history. Now based in Dorval, QC, Canada and born in 1999, it was successful in RAID and MAID subsystems. Now it is known for NVMe all-flash and hybrid, block storage for backup, scalable and flexible NAS, or compliant ransomware protection. At a time Philip Black was its CEO. It got $40 million in financial investment, including $17 million in 2003, $11 million in 2007 and $7.45 million in 2009. The start-up tried an IPO in 2001 and 2008 and another one in 2010 for $55 million, at the end withdrawing IPO in 2012. It was acquired by Imation in 2013, then in 2018 by StorReduce and finally here in 2023 by Serene Investment Management
Co-founded by Mike Edwards and Mihir Shah, StorCentric, in bankruptcy in 2022, was rebranded under Nexsan name.
StorCentric has acquired 5 storage firms:
- Violin Systems in 2020
- Vexata in 2019
- Retrospect in 2019
- Drobo in 2018
- Nexsan in 2018