Troubled storage vendor Tintri receives buyout offer from DataDirect Networks

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Troubled storage vendor Tintri receives buyout offer from DataDirect Networks

DataDirect Networks (DDN), a developer of high-performance storage for modern workloads including artificial intelligence and big data, said Tuesday that it has signed a non-binding letter of intent to acquire the assets of all-flash storage vendor Tintri.

The acquisition of Tintri came just hours after the company had filed for Chapter 11 bankruptcy protection.

Tintri is the second acquisition of storage assets by DDN in the last month.

In late June, DDN acquired the Lustre file system business and related assets from Intel for an undisclosed sum as a way to improve the scalability of its storage offerings and its ability to service customers in high-performance computing, analytics, artificial intelligence and hybrid cloud.

As reported by CRN USA last week, Tintri had been expected to close its doors or sell its intellectual property after laying off most of its employees and reporting via a regulatory filing that it was essentially out of cash.

Tintri is best known as a developer of VMware-aware all-flash storage arrays that allow data to be easily managed at the virtual machine level. Tintri said its customers include Comcast, Chevron, NASA, Toyota, United Healthcare and 20 percent of the Fortune 100 corporations.

Executives from DDN and Tintri did not respond to a request for more information by press time.

In materials unveiling the planned acquisition, DDN said such a transaction would bring the company's high-performance, scalable offerings new best-in-class enterprise virtualisation, real-time analytics and virtual machine automation.

Alex Bouzari, DDN's CEO and co-founder, said in a prepared statement that his company is working with Tintri to provide continued support to its installed base as well as a roadmap to meet future requirements.

"Tintri’s industry-leading all-flash scale out and automation enterprise storage solutions have been successfully deployed in more than a thousand companies, including 20 of the Top Fortune 100. They are essential tools to help organisations build agile development environments for cloud native applications and run mission-critical enterprise applications better than ever before," Bouzari said in the statement.

Tintri cautioned that the agreement with DDN has not been finalised. In fact, the company said a "definitive" agreement has yet to be reached and is subject to "final approval" by the bankruptcy court.

Tintri also said it does not anticipate that its stockholders will receive any return on their shares.

This article originally appeared at crn.com

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