Friday, May 11, 2012

Israel's Particularly Attractive


Data storage giant EMC Corp. in Hopkinton has purchased an upstart Israeli competitor for a reported $430 million, further deepening its presence in a country where it already has hundreds of employees. 

Hopkinton’s EMC Corp. has acquired nine tech companies with major Israeli operations, including: Kashya, a San Jose, Calif., software company with a research lab in Israel (in 2006 for $153 million), lluminator Inc., an enterprise software company (in 2007 reportedly for $10 million), Zettapoint Inc., a database company of Concord and Or Yehuda, Israel (in 2011 for $10 million).
EMC would not disclose the financial terms of the deal, but 451 Research, a New York firm that tracks technology companies, said that EMC paid $430 million to buy XtremIO Inc., a three-year-old, 50-employee firm developing cutting-edge technology for “flash’’ storage.

...“Israel’s particularly attractive as a center of tech innovation, with world-class universities and overall positive climate for investment and economic growth,’’ said Dave Farmer, an EMC spokesman, adding that XtremIO’s employees would probably be folded into existing operations. EMC has acquired 70 companies since 2000.

BDSers, eat your hearts and kishkes out.


No comments: