from the May 2012 issue

EMC buys XtremIO for $430m

The storage systems company is EMC's sixth acquisition in Israel.

EMC Corporation (NYSE: EMC) has acquired storage systems company XtremIO for $430 million. EMC confirmed the acquisition on Thursday with a brief statement saying, "XtremIO's all-Flash, scale-out, enterprise storage architecture was designed to leverage Flash memory. XtremIO technology will complement the range of EMC Flash-based systems and software stemming from EMC's early entry into the Flash storage market. The all-cash transaction is not expected to have a material impact to EMC GAAP or non-GAAP EPS for the full 2012 fiscal year."

"Globes" was the first to report the imminent acquisition several weeks ago.

XtremIO was founded by a group of Israeli high tech veterans including Aryeh Margi, a co-founder of M-Systems; Shuki Bruck, Yaron Segev, and CEO Ehud Rokach, a former senior executive at Orckit and CEO Corrigent.

The exit is an exceptional success for Israel's venture capital industry. The company was founded in 2009 and has raised only $25 million to date in two financing rounds. Founders and employees will also be sharing out a great deal of money. The company has offices in Herzliya and San Jose, California.

Reprinted from the Israel High-Tech & Investment Report May 2012

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