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EMC has agreed to buy Israel-based startup storage provider ScaleIO as the company seeks to grow its footpring cloud computing infrastructure market, Tech Crunch reported Wednesday.
Rip Emson and Alex Williams write that an initial report from GeekTime suggested the deal is in its final stages and would close for a price somewhere between $200 million to $300 million.
TechCrunch reports that EMC intends to use ScaleIO’s data-storage technology with the goal of helping clients scale the products across thousands of servers.
ScaleIO has developed a software that works to offer a shared virtual array network for scalability and elasticity, Emson and Williams report.
Greylock and Norwest Venture Partners invested $12 million in ScaleIO during a round of financing last December, according to TechCrunch.
