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IBM to buy Israeli startup for $300 million: report

JERUSALEM
Mon Dec 31, 2007 5:55am EST

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A view of an IBM facility outside Boulder, Colorado October 18, 2006. IBM is in advanced talks to buy Israeli start-up XIV Information Systems for $300 million to $350 million, financial daily Globes reported on Monday. REUTERS/Rick Wilking

JERUSALEM (Reuters) - International Business Machines Corp (IBM.N) is in advanced talks to buy Israeli start-up XIV Information Systems for $300 million to $350 million, financial daily Globes reported on Monday.

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XIV officials declined to comment.

According to Globes, XIV has developed a system that replaces conventional storage technologies through the use of grid technology and less expensive hardware.

(Reporting by Sergio Tjong-Alvares, Editing by Erica Billingham)
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