IBM close to buying Storwize for $140 million, says Israeli site

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Storwize, a Marlborough, Mass.-based maker of corporate data storage systems, may be picked up by IBM for its technology, which uses data compression techniques to lower the cost of storing large amounts of information in a corporate environment. The price of the deal was said by Israeli site TheMarker to be $140 million, according to an English-language translation by Reuters.

The company, founded in 2004, has collected $40 million in funding from Sequoia Capital, Bessemer Venture Partners, Tenaya Capital, Tamares Group and Tokyo Electron Device. Insider blog SiliconANGLE blogger John Furrier says, “this deal is heavily being sought out by many companies,” because Storwize’s technology works and is thoroughly covered by some 35 patents the company owns.

Neither Storwize nor IBM have commented on the deal yet.