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AOL Acquires Leading Provider of Online Storage and Backup Services

Buys Xdrive, Founded in 1999 and Headquartered in Santa Monica, California

"Xdrive will further enhance AOL's consumer storage offerings to deliver a more safe and secure digital lifestyle for our members," said Gio Hunt, Senior Vice President of New Business Ventures, AOL Digital Services, as America Online, Inc. yesterday announced that it has acquired Xdrive, Inc.

"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," Hunt added.

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 Hunt.

"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 & 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. 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' agreement.

The Xdrive transaction is AOL's first major corporate acquisition since Mailblocks, Inc. and Advertising.com in the summer of 2004.

More Stories By Jeremy Geelan

Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

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Most Recent Comments
MyStorage 08/05/05 05:31:47 AM EDT

So will Xdrive will become the backend of AOL's to-be-launched MyStorage service, which it's rumored will offer 100MB of storage? Presumably.

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