"Hitachi Data Systems has budgeted $1.25 billion for mergers and acquisitions this year, and is also examining opportunities in the Israeli market," Hitachi Data Systems Israel country manager Amikam Magen told ''Globes''.
Magen added, "We are working with other Israeli companies on certification, and we're considering investing in them. Hitachi Data Systems Israel considers the Israel to be an emerging market in the storage, information security and communications sectors. We’re looking to invest in these sectors through Vertex Management Israel, in which Hitachi has invested. Vertex finds relevant opportunities for direct investments by, or cooperation agreements with, Hitachi Data Systems."
An example of these investments came last month, when Hitachi Data Systems invested $2 million in InfiniBand developer Voltaire. Hitachi Data Systems has made other direct investments in Israeli companies, including Sanctum (a developer of Internet security solutions), and cellular animator Bug Life. Hitachi Data Systems invested in Vertex, which manages $250 million, in June 2001.
Hitachi Data Systems Israel started in 1978 as the local branch of National Advanced Systems, which developed and marketed complementary systems for IBM (NYSE:IBM) mainframe computers. The company also served as a distributor for Hitachi Data Systems, which acquired it in 1989, converting it into its storage division.
Published by Globes [online] - www.globes.co.il - on September 24, 2002