StoneFly, Inc. Becomes Wholly Owned Subsidiary Focused on Entering New Global Markets with Expanded Line of Scalable, Affordable IP SAN Solutions
SAN DIEGO – Feb. 7, 2006 — Dynamic Network Factory, Inc. (DNF), a leading maker of high-performance network attached storage (NAS), storage area networks (SAN), RAID and iSCSI systems, today announced it has acquired StoneFly Networks, a pioneer in the development of Internet Protocol (IP)-based SANs. Effective immediately, StoneFly Networks’ company name has been changed to StoneFly™, Inc.
StoneFly will continue to maintain its San Diego headquarters, operating as a wholly owned subsidiary of DNF with a directive to expand its line of iSCSI storage solutions into integrated and modular configurations, while capitalizing on escalating worldwide demand for IP SANs.
According to IDC, a leading provider of global IT research and advice, the iSCSI storage systems market is expanding at a rapid pace, growing from $119 million in 2004 to an anticipated $4.7 billion by 2009 .
Founded in 2000, StoneFly Networks led the way in the development of cost-effective SANs, actively participating in the advancement of the iSCSI standard that enabled SANs to be deployed using low-cost Ethernet. The company established the web site, www.iSCSI.com, to serve as a resource for those interested in the technology.
According to Mo Tahmasebi, president and CEO of DNF, the StoneFly acquisition was finalized following an expansion of DNF’s initial 2005 investment. “StoneFly has earned a competitive advantage by reaping the benefits of $34 million in funding to fuel more than five years of ongoing product development, resulting in the most reliable, field-tested IP SAN solutions available in the world market,” said Tahmasebi. “Our goal with this acquisition is to make the company stronger than ever by building upon its proven IP SAN expertise, while expanding its OEM and reseller channels in the U.S. and abroad where demand is high for reliable, scalable and affordable iSCSI storage.”
Tahmasebi will serve as CEO of both StoneFly and DNF, while Dennis Hergert, a four-year StoneFly executive, has been named director of operations, responsible for overseeing all product development, systems testing, integration and support at StoneFly’s San Diego headquarters.
“Not only is StoneFly organizing for expansion outside of North America for the first time, but we’re also bolstering our operations to ensure a superior commitment to both new and existing customers,” said Hergert. “To accomplish this, we’ll draw upon the strength and experience of a core team of seasoned iSCSI experts who have made significant contributions to StoneFly over the years and through the acquisition.”
The company is now actively expanding its turnkey iSCSI product line beyond entry-level and mid-range solutions to include larger scale SANs of up to 100 TB. It will continue to develop and support key product lines including StoneFly Backup Advantage™, StoneFly ValueSAN™ and StoneFly OptiSAN™, as well as the StoneFusion® Intelligent Network Storage Platform, which is available with all the company’s integrated SAN solutions.
StoneFly will rely upon support from DNF in the areas of hardware technology and integration as it continues to sell through existing reseller channels. In addition, OEM sales are projected to account for a significant portion of StoneFly’s business, which spans industries as diverse as insurance, finance, construction, education and government. For more information, please visit www.StoneFly.com or www.iSCSI.com.
About DNF Security
DNF Security is a leading manufacturer of dependable, mission-critical video surveillance solutions. As a subsidiary of innovative storage and server manufacturer, Dynamic Network Factory (DNF), DNF Security leverages their advanced technologies by creating video surveillance solutions designed to handle the most complex video surveillance and physical security environments. The company offers a comprehensive range of video surveillance solutions including intelligent digital or hybrid video management systems, video management engines, mobile surveillance systems, viewing workstations, and scalable IP storage. In 2008, DNF Security was recognized top industry publisher Security Sales & Integration (SSI) Magazine as the “Top 30 Technology Innovator” of the year. With a focus on providing high quality, scalable and cost-effective IP Surveillance solutions, DNF Security continues to push the boundaries in the surveillance industry. For more information, please visit www.DNFsecurity.com or www.DNFcorp.com.
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Dynamic Network Factory, DNF, DNF Security, CAVS, Video-lok, and the DNF Security logotype are trademarks of Dynamic Network Factory, Inc. All other company and product names contained herein are property of their respective owners.
