Posted at the club by TonyL
HONG KONG, Feb 7, 2001 /PRNewswire via COMTEX/ -- Stratus Technologies
and its majority shareholder, Investcorp, a global investment company,
announced that DB Capital Partners, Compaq Computer Corp. (NYSE: CPQ), and Intel Capital
will make a combined investment of US$115 million in Stratus, of which DB Capital
will invest US$50 million.
Complementary technology collaboration agreements with Compaq and Intel
Corporation were also announced. Compaq will work with Stratus to
advance the highest levels of availability for industry-standard computing
platforms.
"With this investment in Stratus, Compaq will build on our leadership
in providing the highest levels of availability to address the needs of
customers deploying mission-critical applications in Windows 2000 environments,"
said Vince Gayman, director, ProLiant High Availability, Compaq Industry
Standard Server Group.
Mike Fister, vice president and general manager of Intel's Enterprise
Platforms Group, said, "Intel will work with Stratus to help bring enterprise
fault-tolerant capability to Intel Architecture-based solutions."
Stratus will continue its focus on delivering highly available systems built around
Intel processors, including the Intel(R) Itanium(TM) processor and Intel(R)
Pentium(R) III Xeon(TM) processor, and key technologies such as InfiniBand(TM).
"The financial and strategic investments by these international
business leaders come at a very opportune time in the evolution of the market," said
Stephen C. Kiely, president and CEO of Stratus. "By most accounts, one of the
largest and fastest growing segments of our industry is high-availability
computing, particularly on industry-standard platforms. Stratus has developed
innovative technology and expertise to provide true fault tolerance quickly on
cost-effective servers that are simple to deploy, manage and maintain.
We believe we are well positioned in the marketplace, perhaps more so than
at any other time in our 21-year history."
Stratus Technologies, parent company of the Stratus Group of companies,
is a premier supplier of computer systems, services, and technology for
mission-critical applications that must not fail, generally known as
fault-tolerant computing. Stratus serves the banking, securities,
e-commerce, manufacturing, and other industries where the cost of computer-related
downtime can be very high.
The original company was founded in 1980. Ascend Communications
acquired Stratus in 1998 and subsequently sold back the enterprise computing segment of
the business to Stratus management and Investcorp in 1999. Now a privately
held company, Stratus Technologies is about to commence shipments of the
Stratus(R) ftServer(TM) line, the company's own family of Intel Architecture-based
servers with 99.999% availability for Microsoft(R) Windows(R) 2000
environments. In June 1999, Stratus announced the formation of its 24-7 Technology Division
to license its advanced technology to other leading technology companies.
SOURCE Stratus Technologies
