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Press Release
Rackable
Systems Inks Strategic Deal with PTI Ventures to Increase Access to
High Quality, Low Cost Component and Systems Manufacturing Companies
in Taiwan
- Taiwan and Silicon Valley-based PTI Ventures
Invests $1.5M As Part of First Financing Round -
SAN JOSE, CALIF., March 10, 2003 — Rackable Systems, Inc.,
(http://www.rackable.com) a leading
provider of rack mount high-density server and storage solutions, announced
today that it has inked a strategic agreement with PTI Ventures, LLC,
(http://www.ptiventures.com),
a Taiwan and Silicon Valley-Based venture firm providing capital and
strategic management resources. The agreement will leverage PTI Ventures'
proven expertise and extensive relationships with world-class electronic
component and systems vendors in Taiwan, enabling Rackable Systems
to expand its capabilities to provide its customers with high-quality
server and storage systems at low cost. The company also announced
that PTI Ventures has provided Rackable with a $1.5M investment as
part of Rackable's previously announced Series
A Financing led by Parthenon Capital, a leading private equity
firm. PTI Ventures was established by Mr. C.S. Ho, formerly the founder
and CEO of the MiTAC Group, an $8B IT conglomerate originated from
Taiwan.
"With its unique strengths in product design, packaging density,
serviceability and improved thermodynamics, Rackable is a formidable
leader in the fast growing rack-optimized server market. We are pleased
to be a strategic partner of Rackable, helping the Company grow by
leveraging our experience, know-how and industrial network in the US
and Asia", said C.S. Ho, founder and a general partner of PTI
Ventures, and currently Honorary Chairman of the Taipei Computer Association
in Taiwan.
"We very much value PTI's operational expertise and extensive
network,"
said Tom Barton, Rackable Systems President and CEO. "Rackable
Systems' aim is to attain operational excellence and this partnership
with PTI is a significant step toward gaining access to world-class,
low cost manufacturing and supply chains.
Rackable Systems, Inc. manufactures and sells high-density server and
storage platforms at a low total cost of ownership (TCO), ideal for
deployment in large-scale, demanding data center environments. Rackable
Systems customers leverage the company's broad based expertise in Linux,
FreeBSD, Solaris/X86 and Windows to deliver best of breed solutions.
The company's innovative designs offer superior value to the customer
in terms of density (space savings), heat management, power efficiency,
serviceability, remote server management, and breadth of configuration
options to support specific application requirements. Rackable's top-tier
customer list includes over 100 customers such as Yahoo, Google, Webex,
Electronic Arts, Sony America, Lawrence Livermore National Labs, UCSC/Human
Genome Project, Pfizer, Biogen, and Deutsche Bank. Initially bootstrapped,
the company is backed by Parthenon Capital, an industry-leading private
equity firm, and PTI Ventures.
ABOUT RACKABLE SYSTEMS
Founded in 1999 and headquartered in San Jose, California, Rackable
Systems leads the industry in large-scale data center deployment solutions.
Through innovative design, patented technology and commitment to customer
service, the company offers a broad line of server products that can
be rapidly deployed in data centers and other demanding IT environments.
Serving leading-edge technology companies, universities and research & development
organizations, Rackable Systems' customers include Biogen, Cold Springs
Harbor Laboratories, Deutsche Bank, Electronic Arts, Lawrence Livermore
Labs, nVidia, SLAC, Sony America, Tellme, Webex and Yahoo!.
To learn more about Rackable Systems, visit (http://www.rackable.com),
call 408-240-8300 or write to info@rackable.com.
Rackable Systems is a registered trademark
of Rackable Systems®, Inc. All other trademarks are property
of their respective holders.