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IBM confirms XIV buyout

Posted: 04 Jan 2008 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? storage startup? IBM?

Confirming reports of a storage startup buyout, IBM announced it is acquiring XIV, a privately-held storage technology company based in Israel.

XIV, its technologies and employees, will become part of the IBM system storage business unit of the IBM systems and technology group. Financial terms of the acquisition were not disclosed, but sources estimate that the value of the deal is between $300 and $350 million.

"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," said Andy Monshaw, general manager, IBM system storage. "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 said it chose XIV and its Nextra architecture for its ability to scale dynamically, heal itself in the event of failure, and self-tune for optimum performance, while eliminating the significant management burden typically associated with rapid growth environments. Nextra architecture also is designed to optimize automatically resource utilization of all the components within the system.

"Combining our architectural advancements with IBM's worldwide research, sales, service, manufacturing, and distribution capabilities will provide us with the ability to have these technologies tackle the emerging Web 2.0 technology needs and reach every corner of the world," said Moshe Yanai, XIV chairman, in a statement.

According to the companies' statement, the Nextra architecture has been in production for more than two years, with more than four petabytes of capacity being used by customers today.

- Amir Ben-Artzi
EE Times-Europe




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