Xyratex Closes Tender Offer to Acquire nStor
06 September 2005 - 3:33AM
PR Newswire (US)
HAVANT, United Kingdom, Sept. 5 /PRNewswire-FirstCall/ -- Xyratex
Ltd (NASDAQ:XRTX) today announced the completion of its cash tender
offer for all of the outstanding shares of common stock of nStor
Technologies, Inc (AMEX: NSO) at a price of $0.105 per share. At
12:00 midnight, New York City time, on Friday, September 2, 2005,
the offer expired. Based on preliminary information from the
depositary for the offer, as of the expiration, nStor stockholders
had validly tendered and not validly withdrawn 155,094,600 shares
of nStor common stock, including shares subject to guaranteed
deliveries, during the tender offer, which represents approximately
94% of nStor's outstanding common stock. Xyratex intends to acquire
the remaining shares of nStor common stock through a short-form
merger in which all remaining nStor stockholders who did not tender
their shares in the tender offer will receive the same $0.105 per
share in cash paid in the tender offer. Such non-tendering nStor
stockholders will receive information in the mail on how to receive
payment for their shares. No vote or consent of nStor stockholders
is required for this merger. Upon consummation of the merger, nStor
will become an indirect wholly owned subsidiary of Xyratex. This
press release will be posted to the company web site
http://www.xyratex.com/. About nStor Headquartered in Carlsbad,
Calif., nStor Technologies, Inc. is a developer of data storage
solutions that are ideally suited for both large enterprises as
well as small to mid-sized businesses. nStor's flagship controller
technology and StorView software form the foundation for the
OneStor and NexStor family of turnkey solutions that support
Microsoft Windows, Linux, UNIX and Macintosh operating
environments. Designed for storage-intensive environments and
mission-critical applications, nStor's products are offered in
various architectures including Fibre Channel, SCSI and SATA and
are focused on addressing customers' business needs and
applications. nStor markets its storage solutions through a global
network of OEM partners and systems integrators. For more
information, visit http://www.nstor.com/. About Xyratex Xyratex is
a leading provider of enterprise data storage subsystems and
storage process technology. Xyratex designs and manufactures
enabling technology that provides OEM and disk drive manufacturer
customers with data storage products to support high-performance
storage and data communication networks. Xyratex has over 20 years
of experience in research and development relating to disk drives,
storage systems and high-speed communication protocols. Founded in
1994 in an MBO from IBM, and with headquarters in the UK, Xyratex
has an established global base with R&D and operational
facilities in Europe, the United States and South East Asia.
Contacts: nStor Marketing & Alliances Lisa Hart Tel:
+1-760-683-2516 Email: Website: http://www.nstor.com/ Xyratex
Investor Relations Brad Driver Tel: +1-408-325-7260 Email: Website:
http://www.xyratex.com/ Xyratex Public Relations Curtis Chan CHAN
& ASSOCIATES, INC. Tel: +1-714-447-4993 Email: DATASOURCE:
Xyratex CONTACT: Lisa Hart of nStor Marketing & Alliances,
+1-760-683-2516, or ; or, Brad Driver of Xyratex Investor
Relations, +1-408-325-7260, or , or Curtis Chan of CHAN &
ASSOCIATES, INC., +1-714-447-4993, or , for Xyratex Public
Relations Web site: http://www.nstor.com/ Web site:
http://www.chanandassoc.com/
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