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IBM To Acquire CleverSafe For Undisclosed Sum

Tuesday, October 6, 2015 5:44:00 AM PDT | VentureDeal
   Armonk, New York  --  IBM (NYSE: IBM) announced its intention to acquire software technology company CleverSafe for an undisclosed amount.

CleverSafe has developed data storage software that it says "works better the bigger it gets."

IBM said that the acquisition will be integrated into its IBM Cloud business unit in order to give its customers simplified management, strategic data flexibility and "consistency with on-premise, cloud, and hybrid cloud deployment options."

CleverSafe was founded in 2004 and claims more than 350 patents in on-premise storage solutions.

The companies did not disclose financial terms of the transaction.

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