May 10, 2012 | last updated May 15, 2012 11:26 am

EMC Buys Israeli Firm

Hopkinton-based EMC Corp. has officially acquired XtremeIO, a Flash storage company based in Israel.

EMC did not provide financial details, but Israeli newspaper Globes is reporting that the deal is worth $420 million. EMC said it's an all-cash transaction and is not expected to have a material impact on the company's 2012 fiscal year financials. The company said it will provide additional details at EMC World, being held from May 21 to 24 in Las Vegas.

The company said the acquisition will help it as it continues developing networked storage infrastructures.

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