Tech Company M&A Transactions
Sanera Systems Acquisition
Sanera Systems was acquired by McAfee. The transaction became public on 8/25/2003. McAfee said the transaction price was $102 million.
Transaction Overview
Company Name
Acquired By
Announced On
8/25/2003
Transaction Type
M&A
Amount
$102,000,000
M&A Terms
McDATA has signed definitive agreements to acquire Sanera Systems. Under the terms of the acquisition agreements, McDATA will acquire all outstanding shares of Sanera Systems for approximately $102 million in cash, net of debt and cash on hand. McDATA will also provide approximately 1.5 to 1.7 million shares of Class B common stock and approximately $8 million in cash to fund employee retention programs over the next two years for employees added as a result of these acquisitions. These shares have been separately approved and will be amortized as deferred compensation.
Company Information
Company Status
Acquired or Merged
Industry
Networking
Mailing Address
1925 Nw Amberglen Pkwy 155
Beaverton, OR 97006
USA
Beaverton, OR 97006
USA
Phone
Website
Email Address
Not Recorded
Overview
Sanera Systems, Inc. is building highly reliable and scalable storage networking for enterprises and service providers. Sanera's products are at the forefront of the emerging trend towards consolidation of storage and computing in a data center.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Larry Sanders
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About Database of VC Transactions
Our team works diligently to record tech company VC transactions. VC investment data records reported here are sourced from news reports and company announcements. The information is sourced from VentureDeal.com, an affiliated venture.
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