Thursday, August 4, 2011

IO Turbine Acquired By Fusion-io For $95M

San Jose-based IO Turbine, a developer of software caching technology for VMware virtual environments, has been acquired by flash SSD maker Fusion-io. Fusion-io said it wpould pay approximately $95M for IO Turbine, and hire IO Turbine's 20 employees as part of its engineering team. The deal looks to be an outstanding exit for IO Turbine's backers, which include Lightspeed Ventures and Merus Capital; the firm made its first public announcement of a funding in April, saying it raised $7.75M. IO Turbine was founded by Rich Boberg, one of the first employees of NetApp.