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Network Appliance makes buy to enhance caching business

The storage server maker announces plans to acquire WebManage Technologies for about $75 million in stock and cash.

Storage server maker Network Appliance has announced plans to acquire WebManage Technologies for about $75 million in stock and cash.

WebManage sells software that spreads information across several locations on the Internet, a technology called "caching" that speeds delivery of pages to Web surfers. The software boosts Network Appliance's caching hardware business. WebManage's software distributes the information intelligently.

The acquisition bolsters a new Network Appliance strategy, also announced today, to offer more complete products and services to manage customers' data. The company will provide all the underpinnings necessary for companies to deliver data as well as audio and video information over the Internet, the company said.

Network Appliance's stock was hit by Wall Street's wrath for technology stocks this spring, but the company's share price has largely recovered and climbed back to near its all-time high.