Story image

DDN steps in at final hour to salvage Tintri trainwreck

11 Jul 18

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.

Businesses focusing on threats from within - survey
Over 50% of respondents reported that 100 days of dwell time or more was representative of their organisation.
Corelight and Exabeam partner to improve network monitoring
The combination of lateral movement and siloed usage of point security products leaves many security teams vulnerable to compromise.
SailPoint releases first identity annual report
SailPoint’s research found that many organisations are lacking maturity in their governance processes over identities.
Disruption in the supply chain: Why IT resilience is a collective responsibility
"A truly resilient organisation will invest in building strong relationships while the sun shines so they can draw on goodwill when it rains."
The disaster recovery-as-a-service market is on the rise
As time progresses and advanced technologies are implemented, the demand for disaster recovery-as-a-service is also expected to increase.
Cohesity signs new reseller and cloud service provider in Australia
NEXION Networks has been appointed as an authorised reseller of Cohesity’s range of solutions for secondary data.
Avnet to boost AI/IoT solutions with acquisition
The acquisition of Softweb Solutions adds software and artificial intelligence to Avnet’s ecosystem and bolsters its IoT capabilities.
The key to financial institutions’ path to digital dominance
By 2020, about 1.7 megabytes a second of new information will be created for every human being on the planet.