Report: EMC To Acquire ScaleIO For Between $200 and $300 Million
EMC Corporation has acquired enterprise data storage company ScaleIO. The acquisition price was reportedly between $200 and $300 million, according to sources with Geektime. There is speculation that the deal is confirmed and TechCrunch is reporting that the deal is in the final stages.
Founded in 2011, ScaleIO exited stealth mode in December and announced that they had raised $12 million in funding led by Greylock Partners and Norwest Venture Partners. ScaleIO’s software makes it possible for a group disks in a group of computer servers act like a “storage array.” This means that the disks act like a pool of storage instead of depending on a single dedicated server. This way a server with a disk that is hardly used can share the capacity with another disk that needs more. As companies generate more and more data, they constantly need more storage. ScaleIO can help companies save around 80% of their enterprise storage costs.
ScaleIO co-founder Erez Webman joined XtremeIO as chief architect in 2009, which sold to EMC for $430 million in 2012. Before joining XtremeIO, Webman founded Topio and sold it to NetApp in 2006. The other co-founders of ScaleIO: Boaz Palgi, Lior Bahat, Eran Borovik, and Erez Unga also have worked in the enterprise storage market in the past.