Amazon buys Israeli startup E8 Storage: source

FILE PHOTO: The Amazon logo at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo

JERUSALEM (Reuters) - Amazon AMZN.O has bought Israeli storage technology startup E8 Storage, a source familiar with the deal said on Wednesday.

The team at E8 Storage, which provides flash storage for the enterprise and software-defined cloud, will merge with Amazon Web Services development center in Tel Aviv, the source added.

Amazon, Amazon Web Services and E8 Storage declined comment.

The source said the valuation of E8 Storage was “significantly lower” than the $50-$60 million reported earlier by Israel’s Globes news website.

Reporting by Ari Rabinovitch; Editing by Steven Scheer, Kirsten Donovan and Alexander Smith