Luminex Completes Purchase of Mainframe Business from Crossroads Systems
Riverside, CA, March 4, 2003 - Luminex Software, Inc. today announced that it has completed the purchase of the mainframe products business of Crossroads Systems, Inc (NASDAQ: CRDS). The purchase was completed pursuant to an agreement made in March 2002, under which Luminex initially operated as the exclusive reseller of Crossroads-Oregon mainframe products. Under the terms of that agreement, Luminex has now successfully met all of the required conditions and, as a result, has acquired ownership of the assets and intellectual property related to the mainframe products, including the exclusive right to manufacture and distribute those products.
Luminex intends to extend its market leadership in mainframe input/output (I/O) and control unit emulation by continuing to leverage the acquired technology in new directions.
"We are pleased to have reached this milestone," said Michael Saunders, President of Luminex. "The products and technology developed by the mainframe products group in Oregon, combined with its high caliber people, have made a major contribution to our mainframe solutions roadmap and now with our ownership of this technology, will become an even more important contributor to our future success."
"Luminex has been successful in selling and supporting our mainframe products under the reseller agreement and this purchase agreement enables Crossroads to focus on its strategy of data protection and storage connectivity for network attached storage", said Brian R. Smith, CEO of Crossroads Systems.
"Luminex's record of sustained profitability and strategic acquisitions has enabled a successful growth strategy during a challenging economic environment," said Arthur Tolsma, CEO of Luminex. "The synergies of the Oregon mainframe products team and our history of innovation will propel Luminex into a leadership position in the convergence of mainframe and open systems."
About Luminex Software, Inc.
Luminex develops distinctive data storage products that tackle the complex challenges of storing, archiving, distributing and protecting data. Complemented by quality customer service, Luminex's innovative products create real value for our customers. Our Data|WARE product family simplifies CD and DVD creation for small to large businesses in finance, healthcare, prepress, government and education. Luminex's Virtual|BLUE line of parallel channel and ESCON emulators links IBM and plug-compatible mainframes with UNIX and Microsoft systems, resulting in improved operations and economics for large data centers.
Founded in 1994, Luminex is privately held and headquartered in Riverside, California, with additional offices in San Diego, California, and Beaverton, Oregon. Data|WARE and Virtual|BLUE products are available directly from Luminex and through selected partners worldwide. For more information about Luminex, please contact us at firstname.lastname@example.org or at +1.951.781.4100.
About Crossroads Systems, Inc.
With headquarters in Austin, Texas, Crossroads Systems (NASDAQ: CRDS) is a leading global provider of data routing solutions for Storage Area Networks (SANs). Crossroads solutions serve the growing storage connectivity and data storage markets, and are designed to help companies store, manage and ensure the integrity and availability of their data. Crossroads' products are in solutions from companies such as Fujitsu-Siemens, Hewlett-Packard (including Compaq) and StorageTek, and are distributed through partners such as ACAL, ARROW and Tidal Wire. Crossroads is a voting member of the Storage Networking Industry Association (SNIA). For more information about Crossroads Systems, please visit www.crossroads.com or call 800/643-7148.
Luminex Software, Inc.
6840 Indiana Avenue, Suite 130
Riverside, CA 92506
Press Contact: Kate Donlon