February 11, 2013
VMware (NYSE: VMW ) is set to acquire the privately held storage software provider Vristo, both companies announced in separate news releases.The terms of the deal were not disclosed.
As both companies operate in the virtual and cloud segments of the IT market, the acquisition is a complementary one. Vristo's products and services will allow VMware to compete more strongly in the storage arena. The latter company quoted its vice president of storage and availability as saying that "We believe that the acquisition of Virsto will accelerate our development of storage technologies, allowing our customers to greatly improve the efficiency and performance of storage in virtual infrastructure."
The deal is slated to close by the end of March.
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