NetApp to buy LSI's Engenio video and data storage business

NetApp to purchase Engenio in a $480 million all-cash deal.

Storage and data management company NetApp announced Wednesday it has agreed to buy Engenio, a video and data warehouse storage business of the LSI Corporation, in a $480 million cash deal, CRN reports.

Tom Georgens, NetApp president and CEO, views the deal as an opportunity to exploit video. “When there’s a problem and no vendor has a solution, that means there’s an opportunity,” Georgens told CRN in a conference call.

Engenio will operate as a NetApp business unit instead of a stand-alone entity.