Hitachi's wholly-owned subsidiary HDS (Hitachi Data Systems) announced on September 7, 2011 that the company has acquired BlueArc in an all-cash transaction, according to a press release by Hitachi. BlueArc is a network storage company headquartered in California. It is reported that HDS has been an OEM (Original Equipment Manufacturer) customer for BlueArc's Titan Series Servers. HDS did not reveal financial details of the acquisition, but Japan's Asahi newspaper reported that the deal is estimated at approximately US$500 to US$600 million.