Tuesday, January 5, 2010
Dot Hill Buys Cloverleaf Communications
Carlsbad-based Dot Hill Systems, a manufacturer of external RAID storage devices, said today that it is in a definitive purchase agreement to buy Cloverleaf Communications, a software firm developing storage virtualization and storage management products. The deal is worth $2.5M in cash plus approximately $9.5M shares of its common stock. Cloverleaf has headquarters in New York, with research and development in Israel. Dot Hill said the buy would broaden its reach into storage virtualization, data management services software, and the unified storage market. Elic Yavor and Yosi Klein, two of Cloverleaf's founders, are among those joining Dot Hill as part of the acquisition.