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EMC acquires flash memory start-up XtremIO

Posted: 16 May 2012     Print Version  Bookmark and Share

Keywords:fash memory  acquisition 

EMC Corporation, a provider of enterprise IT software and service, has acquired Israel-based XtremIO, reportedly for Rs.2,251.31 crore ($430 million). XtremIO develops flash memory technology for storage infrastructure.

According to EMC, XtremIO's all-flash, scale-out, enterprise storage architecture was designed to leverage the speed and unique abilities of flash memory. "The addition of XtremIO complements the range of EMC Flash-based systems and software."

"The addition of XtremIO extends EMC's lead in developing and delivering networked storage infrastructures that are dynamically optimised for performance, intelligence, and protection for both physical and virtualized cloud environments," the company said.

The all-cash transaction is not expected to have a material impact to EMC GAAP or non-GAAP EPS for the full 2012 fiscal year.

XtremIO was founded in 2009 with a mission to leverage advances in non-volatile memory—primarily flash—to bring new capabilities to enterprise storage systems. The company, which has about 50 employees, is based in Herzliya, Israel.

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