12/31/2007

IBM to buy Israeli startup for $300 million

Filed under: — By Aviran Mordo @ 10:02 am

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.

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.

 

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