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IBM Buys Israel’s Storewize in $140 mln Deal

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Friday, August 20th, 2010

Storwize Inc., a data compression hardware and software company focused on improving storage, has been acquired by IBM Corp.

Storwize provides real-time data compression technology to help clients reduce physical storage requirements. Its products are usually installed between the network and the storage devices, and compress the data before it reaches the network storage devices.

The company was founded in 2004 by Gal Naor and Jonathan Amit, and though it moved its headquarters to Marlborough, Massachusetts, in 2008, its development center and the majority of its workforce remain in Israel.

 IBM has bought a number of Israeli startups in the data storage sector in recent years, including Guardium for $225 million in 2009, FilesX for $80 million in 2008, Diligent Technologies for $165 million in 2008, and XIV for $300 million in 2007 among others.