IBM acquires FilesX for reported $70-90M

FilesX, a data recovery startup started in Israel and now based in Newton, Mass., has been acquired by IBM (NYSE: IBM). The purchase price for the deal was undisclosed, but reported to be between $70 and $90 million dollars, according to Globes Online.

The company’s backers, Benchmark Capital, Genesis Partners and Index Ventures, had put about $20 million into the company since it was founded in 2000.

FilesX makes restoration software that complements other storage systems like tape drives. The company will join IBM’s storage division as part of its data-protection suite, Tivoli Storage Manager.

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Tags: deal