European data storage specialists launch new business

Lapis Solutions, which specialises in the design and manufacturer of high-performance and cost-effective RAID solutions, has announced the formation of a new company called LapiStor Ltd and a substantial investment in that company by transtec, one of the ten largest manufacturers of server and storage solutions in Europe.

transtec, based in Germany' has purchased 44 per cent of the shares in the new company, based in the UK - which will thus benefit directly from a major injection of capital and access to new markets.

Managing Director of LapiStor, Tony Howard, said "We are absolutely delighted by this major endorsement of our technology and market strengths and the opportunities which are being opened up to us as a result of transtec making such a significant commitment to the success of our business.

"In future, we will focus our marketing efforts upon projecting the new name of LapiStor - a name which is more closely aligned to the markets we serve - rather than the name of Lapis Solutions. We will leverage the enlarged financial base that LapiStor will enjoy and its extensive range of new business contacts, in order to give our customers an even better deal in terms of bringing new products and technologies to market at highly competitive prices.

"transtec has been a valuable customer of ours in the past and we look forward to benefiting from this new closer relationship which will not only bring us greater financial strength and business connections but will also give us access to their technological strengths."

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