Dell Inc.’s acquisition targets record remarkable growth figures
The company’s official reported in October that the Addison-based Credant Technologies Inc. recorded a 112% growth during the third quarter and a 49% surge in software booking against the same quarter in 2011.
Founded in 2001, the company manufactures data protection products. This product would allow Round Rock-based Dell (NASDAQ: DELL) to give bonus security plans to its clients while reshaping itself as a full service technological company. It’s also growing into software and storage. The announcement made on Wednesday didn’t disclose any of the financial terms made during the deal.
The statement said that Dell Inc. had finally reached an agreement to purchase Addison-based Credant Technologies Inc.
Credant Technologies Inc. was founded with investments from Austin Ventures LP and they main focus id in producing data protection products. Cretan Technologies Inc. has approximately 110 employees.
(NASDAQ: Dell) Round Rock-based Dell which is also the number 3 computer manufacturer in the world, hire approximately 12000 employees in Central Texas.
The company’s stock price decreased sharply in September after Dell completed the acquisition process of Quest Software (NASDAQ: QSFT) for $ 210 million.
In November, Dell Investors responded really negatively as the company’s stock price fell to more than 8% due to the news that Dell purchased California-based Gale Tech Inc. this happened just a day after the company recorded a 47% decrease in quarterly income. The acquisition of Gale also came a few days after the company posted an 11% decline in revenue as compared to the same quarter in 2011
Founded in 2008, Gale Tech focuses on manufacturing infrastructure automation software. The company has 75 employees.
Gale Tech was Dells seventh acquisition in its fiscal year. The company is trying to acquire companies that will see it refashion itself in to full tech company. According to a company’s press release, the company announced that the creation of an Enterprise Systems & solutions Organization that will mainly deal with “Converged and enterprise workload topologies and solutions”
Some of the Credant investors are, Cisco system (NASDAQ: CSCO), Menio Ventures, Intel Capital (NASDAQ: INTC), Austin Ventures LP and Crescendo Ventures. Chris Pacitti, Austin Ventures General Partner, is one of the members of Credant’s Board of Directors.
The agreement, which was previously planned to have been completed by end of January 2013, would be the eighth acquisition of the company during its fiscal year. The company is trying to restyle itself into a full-service tech provider rather than manufacturer of personal servers and computers.