nStor Corporation Inc. will announce today the acquisition of Parity Systems Inc., a strategic purchase that will move the midrange storage company into high-end Unix environments.
Terms of the deal include $2.8 million in cash and an option to purchase 500,000 shares of common stock at $2.10 per share from parent company nStor Technologies Inc. The sale is expected to be completed by the end of the year.
Parity's product line includes SCSI storage and memory products for RISC-based Unix workstations and servers. The Los Gatos, Calif., company also provides system integration for a range of backup and restore, hierarchical storage management and network management software.
nStor is currently focused on providing storage subsystems for Novell Inc.'s NetWare, Microsoft Corp.'s Windows NT, IBM's OS/2 and SCO's Unix operating environments.
The porting of technology between the product lines will occur throughout 1997, expanding nStor's market to data storage and management solutions across various operating hardware and software platforms, said officials in Lake Mary, Fla.