Samsung Electronics has agreed to acquire purchase storage software company NVELO. Based in Santa Clara, California, NVELO is known for developing next-generation SSD storage solutions. They work on managing and optimizing the use of solid state drives within subsystems. This type of SSD caching is used in consumer and enterprise platforms. The company is working on increasing the speed of retrieving data in a multiple devices including desktops and smartphones. The acquisition is believed to help Samsung boost their memory and capabilities of their handsets and tablets that rival the iPad and iPhone.
“The acquisition of NVELO will enable us to extend our ability to provide SSD related storage solutions to customers. We are pleased with this transaction as the employees of NVELO share our vision to take SSD storage into the next-generation of performance and reliability,” stated Samsung EVP of Flash product and technology of Device Solutions Young-Hyun Jun.