August 10, 2004 Sunnyvale, CA--Finisar Corp. has completed the purchase of the assets of Data Transit Corp. (San Jose, CA), a privately held manufacturer of protocol analyzers and traffic generators, for approximately $16 million in Finisar stock. The acquired business will be operated as a part of Finisar's Network Tools Division at its facility in Sunnyvale.
"As the market leader in the Fibre Channel testing space, we see the acquisition of Data Transit's business as a significant step that will help us maintain our position as the overall market leader in the SAN monitoring, analysis and test arena," said Kevin Cornell senior vice president and general manager of Finisar's Network Tools Division. "Finisar will be a solid home for existing Data Transit customers and partners, who will enjoy excellent support and access to a wider array of solutions."
By adding Data Transit products such as Bus Doctor and PacketMaker for SAS and SATA to the Finisar product line, the company will be able to offer the most comprehensive list of SAN test and monitoring tools. Finisar was recently awarded the 2004 Frost & Sullivan Award for Market Leadership in the fibre channel test equipment market.
"This is an excellent move for Finisar and for our customers," said Dale Smith, founder and chief executive of Data Transit. "Finisar has a towering reputation for product quality and support, so moving the existing Data Transit technologies to Finisar will benefit both the products and the people who use them."
For the six months ended June 30, 2004, Data Transit recognized approximately $2.5 million of pretax income on revenues of $7.3 million.