IBM to buy Texas Memory Systems

Thu Aug 16, 2012 9:21am EDT

A worker is pictured behind a logo at the IBM stand on the CeBIT computer fair in Hanover February 26, 2011. The world's largest IT fair CeBIT opens its doors on March 1 and runs through March 5. REUTERS/Tobias Schwarz

A worker is pictured behind a logo at the IBM stand on the CeBIT computer fair in Hanover February 26, 2011. The world's largest IT fair CeBIT opens its doors on March 1 and runs through March 5.

Credit: Reuters/Tobias Schwarz

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(Reuters) - International Business Machines Corp has agreed to buy privately held Texas Memory Systems, a high-end enterprise storage technology provider, to expand its own storage offerings, IBM said on Thursday.

Armonk, New York-based IBM did not disclose the terms of the deal with Texas Memory, which employs about 100 people. The deal is expected to close later this year, IBM said.

Texas Memory told Reuters in December that it was looking to be bought by a bigger company so it could take advantage of a bigger sales force to sell its products to corporate customers.

(Reporting By Sinead Carew; Editing by Gerald E. McCormick)

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