VeloBit was founded in September 2010 by an experienced team of storage industry experts and entrepreneurs to commercialize inventions in caching and data compression. The company was funded by Fairhaven Capital and Longworth Venture Partners.
Wells Fargo Securities, LLC has acted as the financial advisor to VeloBit in connection with this transaction.
About Western DigitalWestern Digital Corporation (NASDAQ: WDC), Irvine, Calif., is a global provider of products and services that empower people to create, manage, experience and preserve digital content. Its subsidiaries design and manufacture storage devices, networking equipment and home entertainment products under the WD ®, HGST and G-Technology brands. Visit the Investor section of the company's website ( www.westerndigital.com) to access a variety of financial and investor information. About HGST HGST (formerly known as Hitachi Global Storage Technologies or Hitachi GST), a Western Digital company (NASDAQ: WDC), develops advanced hard disk drives, enterprise-class solid state drives, innovative external storage solutions and services used to store, preserve and manage the world's most valued data. Founded by the pioneers of hard drives, HGST provides high-value storage for a broad range of market segments, including Enterprise, Desktop, Mobile Computing, Consumer Electronics and Personal Storage. HGST was established in 2003 and maintains its U.S. headquarters in San Jose, California. For more information, please visit the company's website at http://www.hgst.com. About VeloBit VeloBit provides high-performance storage I/O optimization software that dramatically boosts VDI and server density, accelerates applications, and boosts database capacity at a remarkably low cost. VeloBit uses Solid State Disk (SSD) to create a transparent application acceleration layer that boosts performance and capacity by up to 20x. The software installs seamlessly in 60 seconds and automatically tunes for fastest application speed. VeloBit deploys and operates transparently to existing applications, storage, or data management. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements concerning the anticipated benefits of the VeloBit acquisition and management's anticipated plans and strategies for the VeloBit business. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including the possibility that the expected benefits of the acquisition may not materialize as expected; failure to successfully integrate VeloBit's products, capabilities and employees with HGST; and other risks and uncertainties listed in Western Digital Corporation's filings with the Securities and Exchange Commission (the "SEC"), including Western Digital Corporation's recent Form 10-Q filed with the SEC on May 3, 2013, to which your attention is directed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. Western Digital, WD and the WD logo are registered trademarks in the U.S. and other countries. HGST trademarks are intended and authorized for use only in countries and jurisdictions in which HGST has obtained the rights to use, market and advertise the brand. VeloBit and the VeloBit logo are either registered trademarks or trademarks of VeloBit, Inc. in the U.S. and certain other countries. Other marks may be mentioned herein that belong to other companies.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV