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But StorCentric’s problems may have been broader than COVID-19. The company is an unusual storage vendor, according to Dave Raffo, an analyst at Evaluator Group. It launched in 2018 by merging Nexsan, a midrange storage vendor, and Drobo, an external storage vendor, into a single holding company.
Then it went on a buying spree, acquiring vendors that were already struggling, including all-flash storage vendor Violin in October 2020, which had filed for Chapter 11 bankruptcy in 2016. It also acquired Vexata, an early NVMe storage player, as well as Retrospect in 2019.
“It was like a Frankenstein monster made up of separate parts,” Raffo said.
Echoing Steffen, Raffo said that with such different parts, it isn’t a surprise the company didn’t work out, but he noted that the filing suggests StorCentric is looking for a buyer rather than folding the company.