Current Report — Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K Current Report 4 12K
2: EX-2.1 Plan of Acquisition, Reorganization, Arrangement, 33 160K
Liquidation or Succession
3: EX-99.1 Miscellaneous Exhibit 2 12K
EX-99.1 — Miscellaneous Exhibit
| EX-99.1 | 1st Page of 2 | TOC | ↑Top | Previous | Next | ↓Bottom | Just 1st |
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
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Media Relations Contact: Investor Relations Contact: PR Agency Contact:
Kevin J. Liebl Frank Yoshino Kari Garcia
Vice President, Marketing Treasurer Comm Strategies
714-693-2740 714-693-2775 949-753-9292
e-mail: kliebl@mti.com e-mail: fyoshino@mti.com e-mail: kgarcia@commstrategies.com
MTI TECHNOLOGY COMPLETES ACQUISITION OF EQUITY INTEREST IN CALDERA SYSTEMS;
COMPANY EXPANDS SUPPORT FOR LINUX IN HIGH-AVAILABILITY STORAGE SOLUTIONS
ANAHEIM, Calif., Aug. 12 /PRNewswire/ -- MTI Technology Corp. (Nasdaq: MTIC -
news) announced that it has completed its purchase of a minority equity interest
in Caldera Systems Inc. MTI purchased over 5.3 million shares of Caldera's
Common Stock for $6.0 million. Caldera, a premier provider of the Linux
operating system for business, is headquartered in Orem, Utah.
MTI and Caldera have also entered into a distribution and license agreement that
allows MTI to market and distribute the full range of Caldera's products and
services. This agreement also provides for future cooperation between the
companies in research, development and manufacturing.
MTI believes that this strategic relationship with Caldera offers a number of
benefits. MTI is adding support for Linux to its product offerings to complement
the MTI's cross-platform strategy that includes support for Windows NT and major
UNIX-based platforms. MTI believes its expertise in developing and marketing
high-availability storage solutions can assist in advancing Linux as an
alternative operating system for mission-critical applications.
MTI expects to leverage its service and support resources to meet the
consulting, service and support needs of the growing Linux market. In addition,
MTI is using Linux as a foundation for developing advanced storage technologies
and products.
"We believe that the Linux operating system represents an important and growing
market opportunity for MTI's storage servers," said Earl Pearlman, president and
chief executive officer of MTI. "As one of the leading providers of Linux for
business, Caldera Systems is well-positioned to continue to expand the market
for sophisticated enterprise applications that require large amounts of storage
in high-availability data processing environments."
MTI has focused part of its marketing strategy on the rapidly growing
Internet-related and ecommerce business segment, which has become the fastest
growing market for the company's data storage products. Many of these businesses
are strong supporters and users of the Linux system, so MTI's investment in
Caldera further supports MTI's strategy.
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"As Linux-based applications and products continue to grow in number and
capability, we believe that the Linux operating system will become an
increasingly important alternative operating system for high-availability,
mission-critical applications that require scalable, high-performance data
servers and storage solutions," Pearlman said.
About Caldera Systems Inc.
Caldera Systems Inc. is the Linux for business technology leader in designing,
developing and marketing Linux-based business solutions including OpenLinux,
NetWare for Linux, technical training, certification and support. Caldera can be
reached at 888-GO-Linux (888-465-4689), via e-mail at linux@calderasystems.com
or at the Caldera Systems Web site at www.calderasystems.com.
About MTI Technology
MTI's mission is to provide Continuous Access to Online Information(SM) through
fault-tolerant, cross-platform data storage servers for the enterprise. MTI
develops, manufactures, sells and services data server solutions for Global 2000
companies on a worldwide basis. Headquartered in Anaheim, Calif., the company
offers services and support from more than 40 offices in the U.S. and Europe and
complies with ISO 9001 quality system standards. MTI may be reached by phone:
800-999-9MTI or 714-970-0300, fax: 714-693-2256 or e-mail: info(@)mti.com.
Information can also be accessed via MTI Online, the company's World Wide Web
server on the Internet at: www.mti.com.
MTI is a registered trademark and Continuous Access to Online Information is a
service mark of MTI Technology Corp. All other company, brand or product names
are registered trademarks or trademarks of their respective holders.
This press release includes forward-looking statements, including statements
regarding the benefits to MTI from the Caldera relationship, the acceptance of
Linux as an alternative operating system, the company's product development
plans, and the growth of the Linux market and Internet and ecommerce business
segments, which are subject to change. The actual results may differ materially
from those described in any forward-looking statement. Important factors that
may cause actual results to differ are set forth in the company's periodic
filings with the U.S. Securities and Exchange Commission including its Form 10-K
for the year ended April 4, 1999.
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Dates Referenced Herein and Documents Incorporated by Reference
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