IBM buys local data start-up

Storwize, a privately held company founded in 2004, has a research and development center in Yehud that employs 40 workers.

July 30, 2010 09:17
1 minute read.
A laptop.

laptop 311. (photo credit: Wikipedia Commons)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

IBM Corp. has entered into a definite agreement to buy US-Israeli data-storage start-up Storwize for an estimated $140 million.

“Real-time data compression helps address a significant client need: making it affordable to analyze and make sense of massive amounts of data in order to provide new services,” IBM System Storage and Networking general manager Brian Truskowski said Thursday. “By adding Storwize to our innovative portfolio of storage solutions, IBM is better equipped than ever to help clients handle growing quantities of data and make more of it available for analytics.”

Be the first to know - Join our Facebook page.

Storwize is IBM’s second Israeli purchase in the past year and the seventh overall. The acquisition is expected to close in the third quarter of 2010, subject to the approval of customary closing conditions.

“The acquisition of Storwize further strengthens Israel’s position as a main center for IBM’s activity in the field of storage data,” IBM Israel CEO Meir Nissensohn said Thursday. “It also is a sign of confidence by IBM in the innovation and technological know-how developed in Israel in recent years.”

Storwize is a privately held company that was founded in Israel in 2004 and has offices in Marlborough, Massachusetts. It has a research and development center in Yehud that employs 40 workers. Following the acquisition, all of Storwize’s workforce will join IBM’s storage R&D center in Israel.

Storwize provides real-time data-compression technology to help clients reduce physical storage requirements by up to 80 percent, according to the company. By compressing primary data, Storwize users can store up to five times more data using the same amount of storage, preventing storage sprawl and lowering power and cooling costs.

IBM said data compression for storage systems has become more important as the world’s data already vastly exceeds available storage space, and enterprise demand for storage capacity worldwide is projected to grow at an annual growth rate of more than 43% from 2008 to 2013.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection