X
Drug-Resistant FungusComputing's Top PrizeGoogle's AI ChatbotBeat Airline Ticket PricesChatGPT Bug7 Daily Habits for HappinessWeigh Yourself Accurately12 Healthy Spring Recipes

Legato to acquire OTG Software

Legato Systems, which makes storage software for data backup and other operations, has signed an agreement to acquire OTG Software for about $403 million, the companies said Thursday. OTG's software "virtualizes" storage systems, shielding users from having to know precisely which hardware is storing their data and making it easier for administrators to reconfigure storage systems. Under the deal, OTG shareholders will receive 0.6876 shares of Legato stock for each OTG share, and OTG shareholders will own about 21 percent of the combined company's shares, the companies said. In addition, OTC Chief Executive Richard Kay will join Legato's board.

stephenshankland.jpg
Stephen Shankland
stephenshankland.jpg
Stephen Shankland principal writer
Stephen Shankland has been a reporter at CNET since 1998 and writes about processors, digital photography, AI, quantum computing, computer science, materials science, supercomputers, drones, browsers, 3D printing, USB, and new computing technology in general. He has a soft spot in his heart for standards groups and I/O interfaces. His first big scoop was about radioactive cat poop.
Expertise processors, semiconductors, web browsers, quantum computing, supercomputers, AI, 3D printing, drones, computer science, physics, programming, materials science, USB, UWB, Android, digital photography, science Credentials I've been covering the technology industry for 24 years and was a science writer for five years before that. I've got deep expertise in microprocessors, digital photography, computer hardware and software, internet standards, web technology, and other dee
See full bio
Legato Systems, which makes storage software for data backup and other operations, has signed an agreement to acquire OTG Software for about $403 million, the companies said Thursday. OTG's software "virtualizes" storage systems, shielding users from having to know precisely which hardware is storing their data and making it easier for administrators to reconfigure storage systems.

Under the deal, OTG shareholders will receive 0.6876 shares of Legato stock for each OTG share, and OTG shareholders will own about 21 percent of the combined company's shares, the companies said. In addition, OTC Chief Executive Richard Kay will join Legato's board.