IBM Buys Diligent for Estimated $200M

A Globes article published today reported that IBM has bought Israeli storage solutions developer Diligent Technologies Corporation for an estimated $200 million.  The acquisition comes just one week after the computing giant bought FilesX for $70-90 million (see post). 

IBM is snatching up Israeli startups left and right–  It recently acquired XIV, partnered with Siverge and is keeping its eye on the mysterious Ctrue.  From Globes:

“Diligent Technologies is closely linked with XIV executive chairman Moshe Yanai, who is now responsible for storage development at IBM. Yanai and Diligent chairman and CEO Doron Kempel co-founded the company as a spin-off of EMC Israel in 2002. EMC Corp. (NYSE: EMC) still owns 20% of Diligent, which develops solutions for one of the hottest fields in data storage – the prevention of duplicating files when they are backed up (de-duplication). The company’s solutions enables data storage facilities to back up only changes made in files, rather than duplicate the entire file, thereby eliminating redundancies to save space and memory mechanisms.

According to IVC Online, Diligent Technologies has raise $50 million. Its shareholders, in addition to EMC, include Accel Partners, Gemini Israel Funds, Eastward Capital Partners, and Matrix Partners.”

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