Struggling Tintri's assets set to be acquired

DataDirect Networks says it will provide support and a 'strong long-term product road map' to Tintri customers

DataDirect Networks (DDN) is set to acquire all of Tintri's assets after entering into a "non-binding" agreement.

Tintri's future has been in serious doubt over recent months, with the vendor revealing last month that it would not have enough funds to survive into July. It has since been informed by the NASDAQ market that its shares will be delisted after it failed to report its quarterly numbers.

Storage vendor DDN has now claimed it has agreed to acquire Tintri's assets after signing a letter of intent agreement.

DDN CEO Alex Bouzari said: "DDN is working with Tintri's co-founders, team members, advisers and creditors to develop a winning plan designed to provide Tintri's customers with continuity in support of their installed base as well as a winning road map for their long-term requirements.

"Tintri's industry-leading all-flash scale out and automation enterprise storage solutions have been successfully deployed in more than 1,000 companies, including 20 of the Top Fortune 100. They are essential tools to help organisations build agile development environments for cloud-native applications and run mission-critical enterprise applications better than ever before."

Tintri has not yet published any information concerning the agreement on the investor relations page of its website.

DDN was founded in 1998 by Bouzari, according to Crunchbase, and its last funding round of $9.9m was in 2002.

Earlier in the year the firm announced the acquisition of the Lustre file system from Intel. It claims to have its systems installed in thousands of datacentres across sectors including healthcare, energy, manufacturing, financial services, academia and research.