Tuesday, July 3, 2007

Crossroads Buys Software Line

Crossroads Systems Inc., a developer of data storage products, announced Tuesday that it has acquired a software title from German software developer Grau Data Storage AG. Crossroads said it purchased the application, called FileMigrator Agent, for less than $1 million in cash. Crossroads added that FileMigrator Agent has generated more than $750,000 in revenue since its debut a year ago. The transaction includes Grau's OEM agreement with computing equipment manufacturer Hewlett-Packard. Crossroads Systems is a developer of tape storage software, appliances and backup data storage devices, storage routers for the Fibre Channel market, and related products, and is headquartered in Austin, Texas.