Storage hardware giant EMC Inc. (NYSE: EMC) is to acquire database optimization company Zettapoint Inc.. The impending announcement by EMC will not detail the amount paid for the Israeli start up but sources inform "Globes" that it is about $10 million.
Zettapoint was founded in 2008 and has raised $1.5 million from Jerusalem Venture Partners (JVP). Headquartered in Concord, Massachusetts, the company also has offices in Or Yehuda, Israel as well as the UK and Germany. Zettapoint has 15 employees and following the acquisition they will all become employees of EMC Israel.
Zettapoint already had a strategic partnership with EMC as well as with TriCore Solutions Inc. and JoraPh Consulting Ltd.
EMC, which has an R&D center in Beersheva, has previously acquired four Israeli companies - ProActive for $30 million, Kashya for $153 million, NLayers for $45 million, and Illuminator for $10 million.
Published by Globes, Israel business news - www.globes-online.com - on October 2, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011