Dulles, Virginia – (via THE
HOSTING NEWS) – August 4, 2005 – America Online, Inc. the world’s leading
interactive services company, today announced that it has acquired Xdrive, Inc.,
a leading provider of online storage and backup services.
Financial terms of the deal were not disclosed. The company was previously privately
Xdrive was founded in 1999 and is headquartered in Santa Monica, California.
It will operate as a stand alone, wholly-owned subsidiary of AOL under the Digital
Services business unit and continue to be based in southern California.
Current and future subscribers of Xdrive will continue to be able to utilize
the full suite of services, in accordance with the Xdrive ‘Terms of Service’
Xdrive manages an online, centralized storage platform that gives subscribers
access to, and protection of, all their digital assets – regardless of location
used to access the Internet. Xdrive provides its subscribers with: storage safety
and security; and automatic backup of a wide variety of digital assets – such
as music, pictures, and video.
The Xdrive unit, the Xdrive management team, and its talented, highly-skilled
34 employees will report to Gio Hunt, Senior Vice President of New Business
Ventures, AOL Digital Services.
Hunt explained the rational for the acquisition, ”The digitization of consumer
home media is skyrocketing, with consumers and AOL members increasingly looking
for easier ways to protect and manage a wide variety of important data files
and digital media assets. Xdrive will further enhance AOL’s consumer storage
offerings to deliver a more safe and secure digital lifestyle for our members.”
”Our mission has always been to help manage, integrate, and protect consumers’
digital assets and enable anytime, anywhere access to files, from any internet
connection,” said Brett O’Brien, CEO and Founder, Xdrive. ”This is a great
marriage of Xdrive’s cutting-edge storage technology with the massive infrastructure,
network redundancy and exceptional safety and security reputation of AOL.”
Xdrive has received several positive recognitions for its platform and services,
including being named ”One of the Best Online Services” by PC Today
(July 2005) and ”One of the 20 web services worth paying for” by Computer
Shopper (May 2004). A list of noteworthy reviews and media citations is also
available at http://corp.aol.com/press/media_xdrive.shtml.
The Xdrive transaction is AOL’s first major corporate acquisition since Mailblocks,
Inc. and Advertising.com in the summer of 2004.
For more information on Xdrive, Inc., please visit www.xdrive.com.