A $430m exit for XtremIO

EMC Corporation announced that it has acquired Israeli storage systems firm, XtremIO. Widely regarded as one of the world’s premier Flash storage architecture pioneers, the American EMC paid $430 million to buy Herzliya-based XtremIO. XtremIO was founded in 2009 by …

EMC Corporation announced that it has acquired Israeli storage systems firm, XtremIO. Widely regarded as one of the world’s premier Flash storage architecture pioneers, the American EMC paid $430 million to buy Herzliya-based XtremIO.

XtremIO was founded in 2009 by a group of Israeli high-tech veterans. EMC, meanwhile, is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service.

“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. 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,” said Pat Gelsinger, President and Chief Operating Officer, EMC Information Infrastructure Products.

EMC said it would release more details about the all-cash transaction at EMC World IT conference on May 21-24 in Las Vegas.

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About Viva Sarah Press

Viva Sarah Press is an associate editor and writer at ISRAEL21c. She has extensive experience in reporting/editing in the print, online and broadcast fields. Her work has been published by international media outlets including Israel Television, CNN, Reuters, The Jerusalem Post and Time Out.