DISC Acquires NSM Storage GmbH
DISC, INC., a manufacturer of automated solutions for enterprise storage, announced it has signed a definitive agreement to acquire all of the outstanding shares of NSM Storage GmbH, a manufacturer of CD and DVD library systems.
Under the terms of the purchase agreement, DISC will acquire all of the outstanding shares of NSM in exchange for up to 1.2 million shares of DISC common stock. The formal closing of the acquisition is expected to occur in four to six weeks, upon the fulfillment of certain conditions. The acquisition will be accounted for as a purchase and NSM will become a wholly owned subsidiary of DISC, continuing to serve its existing markets.
According to the companies, the goal of the transaction is to achieve a mutually held strategy of delivering storage solutions for a fraction of the total cost of RAID and providing enterprise storage solutions For less than 2 cents per megabyte.
The companies said that J. Richard Ellis will continue to serve as president and CEO of DISC. Wilfried Beckmann, managing director of NSM, will remain in that position and will also become a vice president of DISC.