IBM acquires FilesX for reported $70-90M
FilesX, a data recovery startup started in Israel and now based in Newton, Mass., has been acquired by IBM (NYSE: IBM). The purchase price for the deal was undisclosed, but reported to be between $70 and $90 million dollars, according to Globes Online.
The company’s backers, Benchmark Capital, Genesis Partners and Index Ventures, had put about $20 million into the company since it was founded in 2000.
FilesX makes restoration software that complements other storage systems like tape drives. The company will join IBM’s storage division as part of its data-protection suite, Tivoli Storage Manager.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.