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.

VentureBeat

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform
  • networking features, and more
Become a member