Cooley LLP announced today that it represented Inktank Storage on its acquisition by Red Hat for $190 million in cash consideration and certain retention payments.
Inktank, based in Los Angeles, is transforming storage with Ceph – a scalable, open source, software-defined storage system that improves the economics and management of data management. Launched by leading Ceph developers, Inktank’s mission is to help enterprises use Ceph to break free of expensive and proprietary storage systems to decrease storage costs, increase operational flexibility, and effectively manage rapidly growing data. Inktank was formed as a spin-out from DreamHost, LLC in 2012. Red Hat provides open source software solutions using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies.
The Cooley corporate team advising Inktank was led by partners Dave Young and Jamie Leigh and included associates Nick Hobson, Nicole Miller and Robin Bennett. Critical support for the transaction was provided by partner Mark Windfeld-Hansen and associate Mike Baker (tax); partner Renee Deming and associate Justin Ho (compensation & benefits matters); and partner Robin Lee and associate Jared Friend (technology transactions).
