EMC inks deal to buy software provider ScaleIO
HOPKINTON, Mass. (AP) — EMC Corp., which makes Data storage equipment, said Thursday that it reached a deal to buy storage software company ScaleIO.
Specific financial terms of the all-cash deal were not disclosed, but EMC said it doesn’t expect the addition of the privately held company to have a measurable effect on its fiscal 2013 results.
EMC said the combination of its own flash cards and ScaleIO’s highly scalable server software — a term that implies the software can handle a large increase in users and/or workload — will boost its product offerings.
When the deal closes, ScaleIO will become part of EMC’s flash product division.
EMC shares rose 3 cents to $24.49 in morning trading.