Fusion-io, a provider of a next-generation shared data decentralisation platform, has entered into a definitive agreement to acquire IO Turbine, a provider of caching solutions for virtual environments.
As per the agreement, Fusion-io will pay up to approximately $95m, which is payable in cash and stock, provided that the cash portion may not exceed $35m.
The transaction is likely to close by the end of August 2011, subject to final closing conditions, Fusion said.
The acquisition is expected to enable enterprise customers to increase the utilisation, performance and efficiency of their datacenter resources and extract greater value from their information assets.
The integration of IO Turbine’s software into Fusion’s platform will enable traditional storage infrastructures to keep up with the increasing demands of virtualised servers.
Following the acquisition, approximately 20 IO Turbine employees will join Fusion-io’s engineering team, with an additional approximately five employees across other areas.
Fusion-io chairman and chief executive officer David Flynn said they believe integrating ioMemory and IO Turbine adds a critical and previously missing performance component to virtualized IT environments that will accelerate the adoption of Fusion-io technology.
"This acquisition also underscores our focus on providing customers with an enterprise solution that features software and hardware components designed to accelerate their business’ full suite of applications," Flynn said.
The marriage of ioMemory and IO Turbine software increases the number of virtual machines per physical server to improve return of investment (ROI), the company said.
The integration will help enterprises to virtualise their entire suite of applications and finally realise the benefit of running a single unified virtualised environment.
IO Turbine CEO Rich Boberg said in addition to delivering performance that finally unleashes the potential of virtualization, we believe the combined Fusion-io and IO Turbine solution will also boost efficiency by reducing the costs associated with running expensive backend shared storage, as well as extend the lifespan of enterprises’ current storage area networks.
