IBM Acquires Storwize for Real-Time Data Compression Capabilities
IBM today announced it has entered into a definitive agreement to acquire Storwize, a privately held company based in Marlborough, MA. Storwize provides real-time data compression technology to help clients reduce physical storage requirements by up to 80%, which improves efficiency and lowers the cost of making data available for analytics and other applications. The acquisition is anticipated to close in the third quarter of 2010, subject to the satisfaction of customary closing conditions. Financial terms were not disclosed.
“Real-time data compression helps address a significant client need — making it affordable to analyze and make sense of massive amounts of data in order to provide new services,” said Brian Truskowski, general manager, IBM System Storage and Networking. “By adding Storwize to our innovative portfolio of storage solutions, IBM is better equipped than ever to help clients handle growing quantities of data and make more of it available for analytics.”
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