Monday, April 23, 2012

XtremeIO Near Acquisition Deal With EMC, Say Reports

San Jose- and Israel-based XtremIO, which develops flash-based storage arrays, is in talks to be acquired by storage giant EMC, for between $400 to $450M, according to multiple reports today. According to Israeli business media, EMC's senior executives have been in Israel holding "aggressive" acquisition talks for XtremIO, competing against NetApp for the startup. The firm has not yet confirmed those talks or any deal. XtremIO raised a round in December from Lightspeed Venture Partners, Battery Ventures, Giza Ventures, and Jerusalem Venture Partners (JVP).