July 10th, 2018 by Adam Armstrong
DDN Intends To Buy Tintri Assets
Last month we reported that Tintri was running out of cash. Without liquidity it seems very unlikely that the company will be able to continue (employees like to get paid). Today DataDirect Networks (DDN) announced its has entered into a non-binding letter of intent agreement with Tintri, Inc. to acquire all of their assets.
Companies go under, no matter how well intentioned or innovative. It is a reality in a world where there are so many startups. While this can be a good thing in that it meant others were outcompeting the failed company, thus getting better value to customers. On the flip side this leaves customers and employees of a company like Tintri in a lurch. But just because a company didn’t survive doesn’t mean it is valueless.
DDN intends to enhance its portfolio with the purchase of Tintri’s assets. This would give DDN best in class enterprise virtualization, real time analytics and VM automation. DDN is working with Tintri to develop a pathway that not only benefits them with the above technology, but also helps out Tintri’s customers.