Dot Hill Systems Acquires Cloverleaf Communications for $12,000,000

  • Feed Type
  • Date
    1/6/2010
  • Company Name
    Cloverleaf Communications
  • Mailing Address
    3 Crossways Park Drive Woodbury, NY 11797
  • Company Description
    Cloverleaf Communications develops data storage systems. The Cloverleaf iSN is an intelligent storage management network system that can work with multiple types of data storage and with computer servers running the Linux, UNIX, and Windows operating systems.
  • Website
    http://www.cloverleafcomm.com
  • Transaction Type
    M&A
  • Transaction Amount
    $12,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Under the terms of the agreement, Dot Hill will purchase the company for cash of $2.5 million plus approximately $9.5 million inshares of unregistered Dot Hill common stock based on the 30 day trailing average closing price of the common stock as ofDecember 31, 2009. Additional details of the transaction have been provided in the Current Report on Form 8-K filed today byDot Hill with the Securities and Exchange Commission.

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