Business Services Industry
Providence Journal, R.I., Business Notes Column.
Knight Ridder/Tribune Business News, August, 2003
By John Kostrzewa, Providence Journal, R.I. Knight Ridder/Tribune Business News
Aug. 3--FORMER DATA-STORAGE HIGH-FLIER COMES CRASHING DOWN: The former high-flier of the data storage industry last week ...uietly called it ...uits.
StorageNetworks, in Waltham, Mass., said on Thursday it plans to li...uidate its assets after failing to find a buyer willing to pay a high enough price.
Launched by some former EMC Corp. executives in the late 1990s, StorageNetworks was once touted as a company that could kill EMC -- the leader in the storage industry. StorageNetworks was initially in the business of renting storage to companies, mostly dot-coms, so they wouldn't have to invest in expensive computers and software.
In June 2000, the...
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