IBM to acquire information management company StoredIQ
IBM has announced its intention to acquire StoredIQ, a Texas-based company that specializes in tools for analyzing and managing unstructured data. The financial terms of the deal were not disclosed.
Founded in 2001 as Deepfile Corporation, StoredIQ rebranded in 2005 with a focus on regulatory compliance. Over the years, the company has grown and received an additional $10 million in funding in 2010.
StoredIQ's products can be categorized into three main areas: Active data intelligence, Active eDiscovery, and Active information governance. Active data intelligence analyses unstructured data, while Active eDiscovery retrieves information for legal purposes. Active information governance imposes information retention policies for compliance purposes.
Last year, StoredIQ hired Tom Bishop, formerly the CTO of IBM's Tivoli systems management platform, as its CTO. The current Chief Technology Officer (CTO) of StoredIQ is Rich F. Gordon.
IBM's acquisition of StoredIQ builds on its prior acquisition of Vivisimo, a data navigation and visualization company. This move aims to provide efficient electronic discovery and timely disposal of unnecessary data, reducing infrastructure consumption and risk.
The integration of StoredIQ's tools into IBM's information lifecycle governance product set is intended to give organizations more effective governance of data. IBM's information lifecycle governance product set includes eDiscovery, data retention, and records management systems.
The acquisition is expected to strengthen IBM's position in the data management market, offering more comprehensive solutions to its clients. With the integration of StoredIQ's tools, IBM aims to provide a more robust and efficient way to manage and govern data, ensuring compliance and reducing risks associated with data management.
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