Terms of the deal were not disclosed but market sources believe that EMC will pay $10-20 million for More IT.
US storage technologies giant EMC Corp. (NYSE: EMC) has acquired Israeli database and big data performance and monitoring company target=new href=http://www.morevrp.com/>More IT Resources Ltd.. The company did not officially announce the deal but published the acquisition on an official blog post by its Greenplum division senior director of strategy Mike Maxey. Terms of the deal were not disclosed but market sources believe that EMC will be paying $10-20 million.
Based in Bnei Brak, More IT Resources was founded in 2006 and last year Shachar Efal joined the company as an investor.
This is EMC's seventh acquisition in Israel. It bought storage systems company XtremIO for $430 million in May this year.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2012
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