IBM completes acquisition of Storwize

Aug 30, 2010
US computer giant IBM said Monday it has completed its acquisition of data storage company Storwize.

US computer giant IBM said Monday it has completed its acquisition of data storage company Storwize.

Financial details of IBM's purchase of Storwize, a privately-held firm based in Marlborough, Massachusetts, were not disclosed.

Storwize technology allows organizations to store and retrieve data more efficiently. said Storwize will become part of its Systems and Software Group.

"IBM is focused on helping clients reduce the cost and complexity of managing the vast amounts of data that are consistently growing year over year," said Brian Truskowski, general manager of IBM System Storage and Networking.

"Using (Storwize) technology can help IBM clients compress their primary data while preventing storage sprawl and lowering power and cooling costs," Truskowski said in a statement.

Storwize has more than 100 customers in various industries including energy, manufacturing, finance, insurance and .

US computer giants Hewlett-Packard and Dell are currently waging a battle for firm .

HP on Friday announced it would increase its offer for 3PAR to two billion dollars or 30 dollars per share in cash, up 11 percent from Dell's 27 dollars per share offer.

Explore further: Alibaba surges in Wall Street debut (Update)

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