Dell Inc. (Nasdaq: DELL) is acquiring the business of bankrupt Israeli start-up Exanet Ltd. for $12 million, a month after the company went into receivership. The acquisition of Exanet will give Dell its first R&D center in Israel. Dell, founded by chairman and CEO Michael Dell, lacks Exanet's clustered storage solution, in contrast to its competitors.
In early December, Exanet informed its employees that it was going out of business because it could not repay the principle on the $10 million loan it had taken from Kreos Capital.