Storwize, a Marlborough, MA-based maker of technology for the real-time compression of data, has agreed to be acquired by IBM (NYSE: [[ticker:IBM]]). The companies did not reveal the financial terms of the deal, which is expected to close third quarter of this year, but previous press reports have priced the transaction in the neighborhood of $140 million. IBM says the Storwize technology will better enable it to help clients handle large amounts of data, for functions such as analytics. Storwize investors include Bessemer Venture Partners, Sequoia Capital, Tenaya Capital, Tamares Group, and Tokyo Electron Device Limited, according to the company’s website.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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