Powerlan Limited has announced the buyout of Australia's largest independently owned IT data storage organisation in Australia, XSI Technology, confirming speculation that the IT&T company has set its sights on the flourishing storage market.
The acquisition of XSI, supplier of data storage solutions in the midrange systems market, represents a new IT service for Powerlan.
Powerlan's managing director, Theo Baker, said the widespread adoption of the internet in both B2B and B2C (business-to-consumer) applications was driving an increasing demand for IT storage data globally.
"XSI represents a new IT service for Powerlan in a market segment which is growing strongly. Through XSI, Powerlan can now offer an end-to-end storage solution to our customer base throughout the Asia-Pacific region."
Baker said the move would complement other recent Powerlan acquisitions such as Namadgi and PSR. The purchase, which is subject to a confidentiality agreement, also follows Powerlan's announcement of the acquisition of Queensland systems integrator Sunrise Computer Group last Monday.
Market intelligence group IDC predicts more open-systems capacity will be installed in 2000 than in all past years combined, with network-attached storage revenues expected to soar from $540 million in 1999 to $5.1 billion by 2003.
XSI, which is ranked as the number one independent supplier of open-systems storage solutions in the country by IDC, has business partnerships with vendors such as CMD, Seagate, Ericsson, Compaq, Hewlett-Packard, Sun and StorageTek, and operates more than 400 data storage sites nationally.