Storage startup Atrato has closed down because it ran out of cash. Atrato supplied Velocity storage systems based on SAID (Self-maintaining Array of Identical Disks) technology. These sealed canisters of 2.5-inch hard disk drives offered a 3-year maintenance free period – similar to Xiotech's ISE but sharing no technology roots …
Atrato solutions acquired by large investor and is still being sold.
My understanding is that Atrato has sold its assets to its former largest investor who is putting the needed capital into the company to continue selling the Atrato Velocity series of products. New product development is also continuing. Most of the key management staff and engineering talent has also joined this new company.
Formal announcement of the new company name is expected the first week of January. Key strategic partnerships are also in the works for Q1 2011.
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