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Compaq Introduces Network Storage Appliance

August 01, 2000|Bloomberg News

Compaq Computer Corp. unveiled a device to help companies store reams of information on computer networks, a market where the No. 1 maker of personal computers struggled last quarter. The device, known as a network-attached storage appliance, connects to networks of servers, the machines that power Internet sites and internal systems for large companies. The market for so-called NAS devices is expected to top $6.5 billion in 2003, up from $1 billion this year, Compaq said. The move is Compaq's first push into the NAS market, where it will compete with companies such as Network Appliance Inc. It also could boost Compaq's storage sales, which were virtually flat in the second quarter. Storage is becoming more important as companies collect mounds of data on customers, sales and inventory. Compaq will begin selling its NAS device in about 15 days starting at about $35,000 for a machine that will add 72 gigabytes of storage capacity to a network, a Compaq official said said. Compaq closed unchanged at $28 on the New York Stock Exchange.

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