IBM buys XIV storage company
Israeli storage solution provider will expand IBM's range of competitively priced solutions
IBM has announced the purchase of Tel Aviv-based storage company XIV.
XIV, formed by graduates of Israel's Talpiot military program for technology leaders, is a developer of single tier storage solutions. including Nextra grid-based SAN. The purchase of XIV will help IBM to expand its storage solution portfolio into cost effective areas.
Andy Monshaw, general manager, IBM System Storage said: "The acquisition of XIV will further strengthen the IBM infrastructure portfolio long term and put IBM in the best position to address emerging storage opportunities like Web 2.0 applications, digital archives and digital media. The ability for almost anyone to create digital content at any time has accelerated the need for a whole new way of applying infrastructure solutions to the new world of digital information. IBM's goal is to provide the leading technologies and solutions at every layer of the data center - storage, servers, software and services - to address these new realities IT customers face."
The value of the deal was not disclosed, although local media put it at between $300m and $350m.
XIV holds six patents in storage technologies, with a further 50 patents filed in the technology area.