Story image

DDN steps in at final hour to salvage Tintri trainwreck

11 Jul 2018

DataDirect Networks has made a bid to acquire Tintri’s assets and bring the company back from the brink.

Tintri has been in trouble since late last year and since then has been hurtling towards extinction with various cases of staff redundancies and the CEO stepping down earlier this year.

Tintri filed for bankruptcy in the US today with the Chapter 11 files made available to the public.

However, DataDirect Networks (DDN) today announced that it has entered into a ‘non-binding letter of intent agreement with Tintri to acquire substantially all the assets of Tintri.’

“DDN is working with Tintri’s co-founders, team members, advisors and creditors to develop a winning plan designed to provide Tintri’s customers with continuity in support of their installed base as well as a winning roadmap for their long-term requirements,” says DDN CEO and co-founder Alex Bouzari.

“Tintri’s industry leading all flash scale out and automation enterprise storage solutions have been successfully deployed in more than a thousand companies, including 20 of the Top Fortune 100. They are essential tools to help organizations build agile development environments for cloud native applications and run mission-critical enterprise applications better than ever before.”

The company asserts its intentions behind the proposed asset acquisition is to provide Tintri customers with support of their installed base and a strong long-term product roadmap.

DDN’s data storage offerings are currently employed in thousands of data centers around the world to meet both on-prem and hybrid cloud demands. The company’s recent acquisition of Intel’s Lustre file system business bolstered DDN’s flash, analytics, and cloud product portfolio – and the company is confident Tintri’s addition will enhance it further.

We'll keep you updated as to how the acquisition bid goes.

Why 'right to repair' legislation could be a new lease on life for broken devices
“These companies are profiting at the expense of our environment and our pocketbooks as we become a throw-away society that discards over 6 million tonnes of electronics every year.”
Attacks targeting Cisco Webex extension explode in popularity - WatchGuard
WatchGuard's Internet Security Report for Q4 2018 also finds growing use of a new sextortion phishing malware customised to individual victims.
SAS partners with NVIDIA on deep learning and computer vision
“By partnering with NVIDIA, we combine our strengths to augment human intelligence and realise the true potential of AI.” 
Why businesses must embrace automation to ensure success
“For many younger workers, the traditional view of a steady job at one company, perhaps for life, simply doesn’t reflect reality."
Dropbox invests in hosting data inside Australia
Global collaboration platform Dropbox has announced it will now host Australian customer files onshore to support its growing base in the country.
TYAN unveils new inference-optimised GPU platforms with NVIDIA T4 accelerators
“TYAN servers with NVIDIA T4 GPUs are designed to excel at all accelerated workloads, including machine learning, deep learning, and virtual desktops.”
Worldwide spending on security to reach $103.1bil in 2019 - IDC
Managed security services will be the largest technology category in 2019.
How Cognata and NVIDIA enable autonomous vehicle simulation
“Cognata and NVIDIA are creating a robust solution that will efficiently and safely accelerate autonomous vehicles’ market entry."