IBM To Acquire StoredIQ To Help Companies With Big Data
IBM announced today that it has entered an agreement to acquire StoredIQ, which the company says will help it advance its efforts to help clients derive value from big data and respond more efficiently to litigation and regulations.
The company is based in Austin.
“CIOs and general counsels are overwhelmed by volumes of information that exceed their budgets and their capacity to meet legal requirements,” said Deidre Paknad, vice president of Information Lifecycle Governance at IBM. “With this acquisition, IBM adds to its unique strengths as a provider able to help CIOs and attorneys rapidly drive out excess information cost and mitigate legal risks while improving information utility for the business.”
“Together, IBM and StoredIQ can empower organizations to more efficiently use and govern their unstructured data to increase its value and eliminate unnecessary cost and risk,” said StoredIQ CEO Phil Myers. “IBM and StoredIQ are longstanding partners with existing integration between IBM’s Information Lifecycle Governance suite and StoredIQ’s active data management software.”
Terms of the deal were not disclosed. IBM expects it to close in the first quarter of 2013.