Fusion-io (NYSE:FIO) has a fresh data storage asset in its portfolio. The company announced it acquired NexGen Storage, a Colorado-based firm, for roughly $114 million in cash and $5 million worth of stock.

Fusion-io described the acquisition as a "strategic expansion" of its existing product portfolio. NexGen provides a hybrid storage solution consisting of both flash and hard drive components.

Fusion-io quoted its CEO David Flynn as saying that "with this acquisition, we will maintain the current NexGen product model as we transition to supporting customers' preferred server platforms with our OEM partners."

Around 50 NexGen employees will be incorporated into Fusion-io's organization.

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