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 asĀ  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.

Fool contributor Eric Volkman has no position in VMware. The Motley Fool recommends and owns shares of VMware. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.