(WEB HOST INDUSTRY REVIEW) — IBM (www.ibm.com) announced on Monday its plans to buy data storage company Storwize (www.storwize.com) for $140 million, according to a report by Reuters.
The acquisition is expected to close by the end of July.
IBM has been slowing building its software portfolio through acquisitions. The company has already acquired Sterling Commerce, Cast Iron Systems and Intelliden this year alone.
Storwize develops online data compression software. By acquiring Storwize, IBM will be able to expand further in the data storage market.
The company recently released its new Storage and System x offerings, which helps medium sized businesses effectively manage information, increase flexibility and reduce the cost and complexity of the IT environment.
IBM led the total worldwide disk storage systems market during 2009 with 14.2 percent market share, followed by HP which had 11.7 percent market share, according to IDC.
The company also showed higher revenue growth than EMC and HP in the fourth quarter of 2009, according to IDC’s new external disk storage systems market share data.
Additionally, the company’s external disk storage system saw a 9 percent year over year increase during the fourth quarter of 2009, which is particularly impressive considering the overall market decreased by 0.7 percent.
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