Storwize Bought By IBM
Storwize, a Marlborough, MA-based maker of technology for the real-time compression of data, has agreed to be acquired by IBM (NYSE: IBM). The companies did not reveal the financial terms of the deal, which is expected to close third quarter of this year, but previous press reports have priced the transaction in the neighborhood of $140 million. IBM says the Storwize technology will better enable it to help clients handle large amounts of data, for functions such as analytics. Storwize investors include Bessemer Venture Partners, Sequoia Capital, Tenaya Capital, Tamares Group, and Tokyo Electron Device Limited, according to the company’s website.