Plasmon Inc. Announces Successful Completion of Private Equity Buyout
Colorado Springs, Colo., October 23, 2008 – Newly formed Plasmon Holding LLC announced today that it has completed a management buyout and organizational restructuring of assets from Plasmon PLC, a trusted source of data archiving systems for over 20 years. The transaction is intended to capitalize and re-position Plasmon over the long term to achieve its strategic objectives as a leader in the rapidly growing enterprise archiving solutions market.
Plasmon Holdings LLC is a new privately-held US-based Delaware Corporation backed by a US private equity firm. The new holding company has acquired Plasmon Inc in the US and specific assets owned by UK-based Plasmon PLC in order to aggressively pursue new technology and go-to-market strategies and maximize Plasmon market share in the long term data storage market. The new company will maintain the use of the Plasmon brand identity and is committed to globally addressing the current and future needs of all Plasmon’s worldwide customers and partners.
“This transaction is the evolution of the strategic process that we began earlier this year. Plasmon has exceptional intellectual property and an unmatched value proposition with which to address the rapidly growing need for archiving as a core layer of the IT infrastructure,” said Steven Murphy, CEO of the new company. “We are reaching beyond our traditional role as the deep archive ‘component’ of widely used content management applications to provide complete archive turnkey solutions. Our newly announced focus on ‘3-2-1 Archive Best Practices’ for accessible and secure long-term data storage provides exactly what the enterprise IT market is looking for: at least 3 single instance data copies, on 2 types of media, 1 of which is removable, long-lived and powered down. With this approach, our customers simultaneously meet all their business needs for historical and fixed content data, including rapid access, very long-term secure retention, and disaster recovery, all in an economical solution,” said Murphy.
“It is remarkable that a deal of this significance in the storage market was brought to fruition during this tight financial environment” said Brian Babineau, senior analyst at Enterprise Strategy Group. “However, our research suggests that the need for long-term corporate data storage will drive customers to archive over 100 exabytes of data over the next three years, so it may not be remarkable. Plasmon offers a unique integration of magnetic disk, long-term optical media and archival management software to address this challenge.”
Under the restructuring, Plasmon Inc, formerly a US-based subsidiary to the UK company, will become the worldwide headquarters. The “new” Plasmon will offer its market leading archiving solutions and services in all global territories. The company plans to use its new organization and financing to enhance its core Archive Appliance solution and leverage its recently announced relationships with NetApp, IBM-FileNet, and a range of market-leading content management ISV’s.
Plasmon and UDO are registered trademarks of Plasmon Holding LLC.
For more than 21 years, Plasmon technology has addressed the long-term data storage needs of over 6,500 customers and 17 thousand installations in 56 countries. Plasmon archive solutions are designed to provide an easy-to-use archival storage environment where data is simultaneously accessible, protected, and available despite failure, disaster, or years of inactivity. Plasmon is focused on long-term archiving, offering customers the ability to manage data growth, reduce operational complexity and cost, and mitigate risk. Plasmon Inc is headquartered in Colorado Springs, Colorado with offices globally. For more information, visit www.plasmon.com.
ProAmericas Marketing & Public Relations
VP Global Marketing
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