West Sussex, UK – October 19, 2005 - UK-based Nairn Investments, a specialist technology investment company, has backed the ambitious global growth plans of European storage pioneer Fibrenetix with the announcement of a 30% equity acquisition agreement.
As part of the deal, Irish businessman Hans O’Sullivan, one of the best-known faces in the storage world, will join the Fibrenetix board.
The move comes eighteen months after Jes Nagel, Fibrenetix founder and CEO secured ‘substantial’ EU funding for the development of the company’s northern Spain-based manufacturing and assembly plant – and just weeks after the launch of the group’s USA subsidiary in Silicon Valley, California.
Said Nagel: “We are poised for dramatic growth in coming months. The launch of our San Jose office is a major springboard in our global expansion plans – and this latest announcement brings one of the storage world’s major players to our boardroom.