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Technology Fund Invests in Gadzoox Networks

Technology Fund Invests in Gadzoox Networks

Tuesday May 29th 2001 by Network Storage Forum Staff

Galleon Group sees growth potential in Gadzoox Networks and Storage Area Network Market

Storage Area Network (SAN) vendor Gadzoox Networks Inc., today announced that it has closed on the sale of $14.8 million of common stock in a transaction led by the Galleon Group, a technology and healthcare fund.

According to the company, the Galleon Group is focused on the technology and healthcare industries, with specific expertise in the SAN market, and currently manages over $5.0 billion in equity funds.

"The Galleon Group is a prominent fund in the technology sector and invests in companies with attractive long-term growth prospects," said Michael Parides, President and CEO, Gadzoox Networks. "We are pleased to be among a group of select storage networking companies in Galleon's technology portfolio."

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