Friday, June 30, 2006

Exabyte Engages Investment Banking Firm, Looks To Possible Sale

Boulder, Colorado-based Exabyte, a provider of tape storage devices and products, is looking at a possible sale, saying today that it has engaged St. Charles Capital, an investment banking firm to explore options for the company. Exabyte said that St. Charles will assist in in reviewing strategic business alternatives, including the merger or sale of the company. Exabyte, which competes in the competitive data storage market, develops tape storage drives and libraries. The tape storage space been seeing intense consolidation pressure over the last few years, with Sun recently purchasing competitor StorageTek, Quantum buying tape provider Certance, and the recent $770M acquisition last month of ADIC by Quantum Corp. Denver-based St. Charles Capital provides fundraising, merger and acquisition, and financial advisory services to middle-market companies.