Double-Take(R) Software Acquires TimeSpring(R)
December 26 2007 - 4:01PM
Business Wire
Double-Take� Software (NASDAQ: DBTK) today announced the
acquisition of TimeSpring�, a continuous data protection software
company. The acquisition bolsters Double-Take Software�s protection
and back-up capabilities for virtualized and physical server
environments. Double-Take Software will integrate TimeSpring�s
unique abilities to create any-point-in-time application consistent
recovery points into its suite of product offerings. �We feel
TimeSpring offers the best point-in-time recovery capabilities in
the market and we are thrilled that Double-Take Software has
selected us to extend its protection and recovery portfolio,� said
Rick Carlson, CEO of TimeSpring. With this acquisition, Double-Take
Software broadens its overall recovery strategy. Today business
customers use Double-Take continuous data replication to instantly
recover the most recent version of their data, applications and
operating system. Adding TimeSpring to the Double-Take suite of
products, the company extends its recovery approach beyond disaster
recovery for catastrophic failures, to operational recovery, such
as recovering from routine human errors. TimeSpring enhances
Double-Take to perform granular, or item-level recoveries, from any
point in time. The combination of Double-Take continuous
replication with TimeSpring�s Any-Point-In-Time capabilities allows
IT administrators the ability to �rewind� and �fast-forward� the
data on the server and recover to the moment before an unwanted
change. The granularity of operational recovery extends to the
application-level, which allows users to see application data in
native format so they can easily recover from any point in time.
The product�s application awareness allows administrators to
determine application consistency points which further enable their
ability to achieve superior operational recovery. This combined
technology also impacts how IT managers protect and recover
specific applications as follows: Microsoft SQL � Recover SQL
databases from multiple points in time. Microsoft SharePoint
Services � Rewind through multiple versions of a SharePoint site
directly from within a browser and recover items simply by dragging
and dropping them from an older version of the site to the latest
version. Microsoft Exchange � Access to item-level recovery
capabilities allowing for quick recovery of entire Exchange mailbox
databases or individual mail items, calendar appointments and even
Outlook tasks. �In addition to acquiring TimeSpring�s patented
technology, Double-Take Software is excited to be adding the
Montreal-based company�s employees to its roster,� said Dean
Goodermote, CEO of Double-Take Software. �TimeSpring�s engineering
expertise, specifically in the area of file systems and application
level recovery, fits extremely well into Double-Take Software�s
core capabilities as does its product design into our architecture.
This strategic acquisition aligns well with Double-Take Software�s
existing and future products,� Goodermote added. The transaction
was structured as a purchase of 100% of the outstanding shares of
TimeSpring, for a total cash purchase price of approximately $8.3M
plus transaction costs, subject to certain customary post-closing
adjustments. Conference call information Double-Take Software will
host a conference call at 5 p.m. ET today to discuss this
announcement. To participate in the conference call, please dial
800-817-2743 if you are calling within the United States or
913-312-1484 if you are calling from outside the United States. A
live web cast will also be available on the investor relations
section at www.DoubleTake.com. If you are unable to participate in
the conference call, an audio replay of the call will be available
approximately two hours after the conclusion of the call and remain
available until Monday, December 31, 2008 at 11:59 p.m. ET. To
access the audio replay, dial 888-203-1112 or 719-457-0820 and
enter replay pass code number 9892404. A replay of the web cast
will be available on the investor relations section at
www.DoubleTake.com approximately two hours after the conclusion of
the call and will remain available for 90 calendar days. About
Double-Take� Software Headquartered in Southborough, Massachusetts,
Double-Take� Software (Nasdaq: DBTK) is a leading provider of
affordable software for recoverability, including continuous data
replication, application availability and system state protection.
Double-Take Software products and services enable customers to
protect and recover business-critical data and applications such as
Microsoft Exchange, SQL, and SharePoint in both physical and
virtual environments. With its unparalleled partner programs,
technical support, and professional services, Double-Take Software
is the solution of choice for more than ten thousand customers
worldwide, from SMEs to the Fortune 500. Information about
Double-Take Software�s products and services can be found at
www.doubletake.com. This release includes forward-looking
statements intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements generally can be identified
by phrases that say�Double-Take or its management �believes,�
�expects,� �anticipates,� �foresees,� �forecasts,� �estimates� or
other words or phrases of similar import. Similarly, statements in
this release that describe the Company�s business strategy,
outlook, objectives, plans, intentions or goals also are
forward-looking statements. All�forward-looking statements are
inherently speculative, and are subject to�risks and uncertainties
that could cause actual results to differ materially from those
anticipated in forward-looking statements. These risks and
uncertainties include those set forth from time to time in our
filings with the Securities and Exchange Commission. We are under
no obligation, and do not undertake any duty,�to update these
forward looking statements�statements at any time. � Double-Take
Software. All rights reserved. Double-Take, GeoCluster, and NSI are
registered trademarks of Double-Take Software, Inc. Balance,
Double-Take for Virtual Systems and Double-Take ShadowCaster are
trademarks of Double-Take Software, Inc. Microsoft, Windows, and
the Windows logo are trademarks or registered trademarks of
Microsoft Corporation in the United States and/or other countries.
TimeSpring is a trademark of TimeSpring Software Corporation. All
other trademarks are the property of their respective companies.
Double-Take Software (MM) (NASDAQ:DBTK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Double-Take Software (MM) (NASDAQ:DBTK)
Historical Stock Chart
From Jul 2023 to Jul 2024