8 January 2002 Storage management software vendor Veritas will today announce that it is acquiring Austin, Texas-based data recovery software specialist The Kernel Group (TKG), according to reports.
TKG, a private company founded in 1990, makes software that copies information from computer systems so that it can be quickly restored if there is a systems failure that causes data loss.
Mountain View, California-based Veritas is acquiring TKG as part of a growth strategy to help it expand quickly into broader markets in the storage industry.
A crucial benefit of the TKG acquisition is that the company says that it has developed software that can restore data onto machines whose hardware may differ significantly from the machines on which the original back-up was made.
This capability is increasingly in demand as the storage industry moves towards open systems that enable storage networks to be built on different hardware and software – and away from proprietary hardware and software systems provided by the market leaders such as EMC.
The terms of the acquisition have not been disclosed. However, Kris Hagerman, senior vice-president of strategic operations for Veritas, says the company will use some of its $1.5 billion (€1.7bn) cash stockpile to finance the purchase.
It may also use its relatively highly valued stock to make further acquisitions in the future, he says.