{"id":17107,"date":"2010-04-07T08:04:00","date_gmt":"2010-04-07T04:04:00","guid":{"rendered":"http:\/\/localhost\/?p=17107"},"modified":"2010-04-09T11:04:48","modified_gmt":"2010-04-09T07:04:48","slug":"bycast-bought-by-rival-netapp","status":"publish","type":"magazine","link":"https:\/\/brainstation.io\/magazine\/bycast-bought-by-rival-netapp","title":{"rendered":"Bycast bought by rival NetApp"},"content":{"rendered":"<p>Sunnyvale&#8217;s <a href=\"http:\/\/www.netapp.com\/us\/\">NetApp<\/a> announced today that it has entered into a  <a href=\"http:\/\/www.netapp.com\/us\/company\/news\/news-rel-20100407-bycast.html\">definitive agreement to acquire<\/a> rival Vancouver-based <a href=\"http:\/\/www.bycast.com\">Bycast Inc.<\/a> in an all-cash  transaction.<\/p>\n<p>Founded more than 10 years ago, Bycast has helped more  than 250 customers worldwide dramatically improve their operational  efficiency and reduce the administrative burden of managing massive  quantities of data across multiple geographies.<\/p>\n<p>Bycast extends NetApp&#8217;s leadership position in unified storage by adding  an object-based storage software offering. Object-based storage is a  new and emerging approach to storing and accessing data based on object  names and rich metadata that describes the content in greater detail,  which simplifies the task of large-scale object storage while improving  the ability to quickly search and locate data objects.<\/p>\n<blockquote>\n<p>&#8220;We are excited and look forward to joining the NetApp team,&#8221; said Moe  Kermani, CEO of Bycast. &#8220;We share a complementary vision and a common  dedication to excellence. Together we will offer customers the  best-in-class content repository solutions that further their drive  toward a unified storage infrastructure.&#8221;<\/p>\n<\/blockquote>\n<p>The all-cash transaction is pegged in the $50-100 Million range leaving Bycast investors Growthworks and <a href=\"http:\/\/www.bdc.ca\/en\/business_solutions\/venture_capital\/portfolio\/bycast.htm?cookie_test=1\">BDC Venture Capital<\/a> likely smiling about this exit.<\/p>\n<p>In 2003 <a href=\"http:\/\/www.canadavc.com\/files\/public\/Top50VCDeals2003.pdf\">Bycast raised $10 Million<\/a> of which <a href=\"http:\/\/www.growthworks.ca\/portfolio-companies\/search_company.aspx\">Growthworks invested a total of $7.7 Million<\/a> through its Working Opportunity and Access Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sunnyvale&#8217;s NetApp announced today that it has entered into a definitive agreement to acquire rival Vancouver-based Bycast Inc. in an all-cash transaction. Founded more than 10 years ago, Bycast has helped more than 250 customers worldwide dramatically improve their operational efficiency and reduce the administrative burden of managing massive quantities of data across multiple geographies. [&hellip;]<\/p>\n","protected":false},"author":1358,"featured_media":17109,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"magazine-region":[],"magazine-series":[],"magazine-topic":[],"class_list":["post-17107","magazine","type-magazine","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/17107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine"}],"about":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/types\/magazine"}],"author":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/users\/1358"}],"version-history":[{"count":0,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/17107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media\/17109"}],"wp:attachment":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media?parent=17107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/categories?post=17107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/tags?post=17107"},{"taxonomy":"magazine-region","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-region?post=17107"},{"taxonomy":"magazine-series","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-series?post=17107"},{"taxonomy":"magazine-topic","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-topic?post=17107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}