EMC splashes cash on flash storage firm XtremeIO
EMC strengthens its position in the flash storage market with acquisition of Israeli start-up
EMC has confirmed that it will buy up flash storage architecture firm XtremIO in order to further its drive into the flash storage market.
Rumours have been flying around for a while that EMC would be snapping up the Israeli firm, with a reported price tag nearing half a billion dollars, though EMC has not revealed the exact amount.
EMC has been involved in the flash storage market since 2008 and the acquisition of XtremIO is aimed at furthering its position in the enterprise space.
It has already been busying itself with flash software and systems, and says that last year it shipped 24 petabytes of flash drive capacity to customers.
“XtremIO brings to EMC amazing technology with a fantastic team that’s captured praise from early-view customers and many of the industry’s foremost thinkers,” said EMC COO Pat Gelsinger.
“We fully expect XtremIO technology, once introduced to market, to have a tremendous impact on our customer’s ability to leverage the unique advantages of all-Flash storage across many of their most demanding applications.”
More details of the deal will be unveiled at the forthcoming EMC World event in Vegas later this month.