IBM to buy Israeli startup for $300 million: report
JERUSALEM (Reuters) - International Business Machines Corp (IBM.N: Quote, Profile, Research, Stock Buzz) is in advanced talks to buy Israeli start-up XIV Information Systems for $300 million to $350 million, financial daily Globes reported on Monday.
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)
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Sphere
Rocker Monk
Iran rules out enrichment freeze