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|Drobo Acquired by Investment Group Comprised of Seasoned Tech Executives|
|Posted: Wed May 20, 2015 01:46:33 PM|
Leading Storage Array Company Spins Off from Connected Data to Fuel Next-Phase of Strong Growth
SANTA CLARA – May 20, 2015 – DroboTM, the award-winning maker of smart storage arrays for businesses and professionals, today announced that an investment group comprised of seasoned technology executives has acquired the company. Drobo, which had been operated as an independent subsidiary of Connected Data, will now become a stand-alone entity continuing to offer the complete line of award-winning Drobo storage arrays that provide an unprecedented combination of data protection, expandability and ease of use to business users.
“Drobo is at an exceptional point in its growth and execution strategy,” said Mihir H. Shah, who will serve as Drobo’s new CEO. “Its simple-to-use technology, market adoption and brand recognition make Drobo a very compelling investment opportunity. I anticipate continued rapid growth for Drobo as we engage our escalated execution and expansion strategy for 2015 and beyond.”
Drobo merged with Connected Data in 2013, after which the company has been restructured and now operates from a position of profitability. Since 2013, Drobo has achieved numerous milestones including a complete overhaul of the original Drobo product line and dramatic performance improvements in all classes of products especially the B1200i hybrid storage array.
“Drobo offers innovative technology that is ideally suited for the demanding, high capacity needs of today’s business users,” said Geoff Barrall, founder and CEO of Connected Data and the original founder of Drobo. “We are pleased to have ushered Drobo’s growth for the past two years while also charting the success of Connected Data’s Transporter line of private cloud appliances. With separate target customers and markets, it made sense to separate the companies, so that each can benefit from a more dedicated management team and focused strategic execution for the next phase of growth.”
The Drobo acquisition is effective immediately and will be a seamless transition for customers, partners and employees. Geoff Barrall will remain on Drobo’s board of directors as Drobo and Connected Data each continue to enhance the Drobo and Transporter product lines with continued innovation.
Shah is an experienced technology executive and investor. He was a member of the leadership team at Brocade, where he served as managing director and vice president of corporate development and strategy. Prior to Brocade, he held senior level roles in corporate development, finance and sales at IBM. Shah also has a background in investment banking and private equity. He holds a bachelor’s degree from University of Southern California, an executive MBA from University of California, Irvine. He has also completed a postgraduate degree at the University of Pennsylvania’s Wharton School of Business. Terms of the deal and additional investors were not announced.