July 29, 2010
Marlborough Firm To Be Acquired By IBM
By Matthew L. Brown
Storwize, a privately held data storage technology firm based in Marlborough, will be acquired by computer giant IBM.
The acquisition is expected to close in the third quarter of this year, according to IBM. Financial terms of the deal were not disclosed.
Storwize's technology compresses various types of data and is used in a number of industries, including manufacturing, finance, insurance and telecommunications.
IBM said the acquisition helps the company meet the needs of clients that want a more affordable way to analyze large amounts of data.
Storwize estimates that its technology allows customers to store five times as much data as they can without its compression technology.
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