SGI Buys Assets of Copan

SGI announced the purchase of substantially all the assets and assumption of a limited number of liabilities of COPAN Systems, Inc., a provider of storage archive solutions for real-time access to long-term persistent data.

SGI acquired the assets with the goal of expanding SGI’s storage portfolio to include a highly scalable, energy efficient enterprise Massive Array of Idle Disks (MAID) platform. COPAN storage solutions are designed to allow customers to access Disk-to-Disk and Virtual Tape Library (VTL) capabilities for cost-effective management of large data environments.

"I am delighted to welcome COPAN’s employees and customers to SGI," said Mark J. Barrenechea, SGI CEO. "The need for real-time access to long-term persistent data is expected to continue to expand. This acquisition will allow SGI to participate directly in this market."

With the acquisition, SGI will be able to offer an expanded portfolio of purpose-built, innovative, massively scalable high performance storage products. Specifically, with the COPAN platform, SGI will be able to offer new storage technologies that target Persistent Data storage. The platform is designed to allow customers to decrease the cost and complexity of storing and managing extensive volumes of long-term information in data-rich organizations.

COPAN’s assets were purchased in a private foreclosure sale from COPAN’s secured creditors. The purchase price was approximately $2 million in cash. SGI did not assume any debt of COPAN in the acquisition and assumed a limited number of liabilities. COPAN’s offices in Longmont, Colorado, will be retained, and SGI intends to hire select COPAN employees.