Services Provided: Transaction


OVERVIEW

About Mirra:
Founded in 2002 and headquartered in Sunnyvale, California, Mirra is a leading developer of digital content protection products for the home and small business markets. In September 2003, the Mirra Personal Server was introduced at the DEMOmobile conference and the product began shipping to customers online in December 2003 and shortly thereafter through selected Best Buy retail stores. The Mirra Personal Server is an easy-to-use, multiple-PC backup appliance designed for home and small business professionals who need a simple and affordable way to protect, remotely access, and share their important digital files.

About Seagate:
Seagate is the worldwide leader in the design, manufacture and marketing of hard disc drives and storage solutions, providing products for a wide-range of applications, including Enterprise, Desktop, Mobile Computing, and Consumer Solutions. Seagate’s business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, with the goal of being the time-to-market leader in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world’s growing demand for information storage. Seagate can be found around the globe and at http://www.seagate.com.

SASI ENGAGEMENT

SASI had a long standing relationship with Sequoia Capital, a lead investor in Mirra. The situation called for a banker who could quickly get up to speed and approach the logical set of strategic acquirers in a timely manner. Through past transactions and our storage market expertise, we were uniquely qualified for this engagement. SASI drove the process from identification and selection of potential strategic acquirers through negotiations of critical deal points in the purchase agreement. Keys to success included understanding the consumer and small business data storage market, the Mirra architecture and how it could be leveraged in these markets and the business model fundamentals to drive profitable growth.