Acquisition Sets the Stage for Western Digital's Continued Growth in Cloud Services
Western Digital Corp. (NASDAQ: WDC) and Upthere, Inc. announced today that Western Digital has completed the asset acquisition of Upthere, a leading cloud services company that is providing a new and better way to keep, find and share what's important and meaningful to consumers. Financial terms of the transaction were not disclosed.
Upthere provides an enhanced storage experience designed to be the single home for all of a user's photos, videos, documents and music. The Upthere app is platform agnostic and available for iPhone, iPad and Android devices, as well as macOS and Windows PCs. The addition of Upthere's technology and team to Western Digital's Client Solutions business unit will enhance the company's consumer products portfolio with new cloud-based offerings.
"Upthere is delivering on its mission to transform the personal storage market and we share their focus on providing consumers more rich and meaningful experiences with their data," said Jim Welsh, senior vice president and general manager of Client Solutions at Western Digital. "I'm pleased to have Upthere CEO Chris Bourdon join the team as a strategic leader. His extensive software expertise will help accelerate our user experience and cloud services imperatives across all aspects of the Client Solutions business."
Bourdon added, "The Upthere team is excited to join Western Digital, with whom we share a long-standing relationship and commitment to significantly advance the consumer experience through cloud-based solutions. It is clear that Western Digital recognizes the great technology and products we have developed and this transaction is a testament to our hard-working team. I am confident that, together, we will continue to innovate cloud-based services with the potential to revolutionize how consumers and businesses create, manage and keep their important data."
Barbara Nelson will lead Western Digital's Cloud Services business. Ms. Nelson recently joined Western Digital from IronKey, a cloud security business where she was executive vice president and general manager. She has a strong entrepreneurial track record, having been the chief executive officer at two start-up companies, and has led the growth of businesses from concept to over $100 million on four separate occasions.
About Western Digital
Western Digital is an industry-leading provider of data storage technologies and solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility and speed. Our products are marketed under the HGST, SanDisk and WD brands to OEMs, distributors, resellers, cloud infrastructure providers and consumers. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com.
Upthere is transforming the personal storage market by providing a new and better way to keep, find, and share what's important and meaningful. It provides an enhanced storage experience designed to be the one home for all of your photos, videos, documents, and music. Upthere is available for iPhone, iPad and Android devices, as well as macOS and Windows PCs. Upthere is headquartered in Redwood City, California.
This news release contains certain forward-looking statements, including statements regarding the company's acquisition of Upthere, anticipated benefits of the transaction, integration of the company and Upthere, business strategies, products and technologies, growth opportunities and market trends. There are a number of risks and uncertainties that may cause these forward-looking statements to be inaccurate including, among others: the anticipated benefits of the transaction may not materialize as expected; failure to successfully integrate the company and Upthere; volatility in global economic conditions; business conditions and growth in the storage ecosystem; the impact of competitive products and pricing; market acceptance and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company's filings with the Securities and Exchange Commission (the "SEC"), including the company's Form 10-Q filed with the SEC on May 8, 2017, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
Western Digital, WD and SanDisk are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the U.S. and/or other countries. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. © 2017 Western Digital Corporation or its affiliates. All rights reserved.
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