Hitachi Vantara, a subsidiary of electronics manufacturer Hitachi High-Technologies, has acquired Waterline, a US-based data management software provider backed by IT services firm Infosys.
Founded in 2013, Waterline Data provides machine learning-driven software that automatically sorts data stored across different locations within the client’s IT network.
The technology is designed to help meet data privacy regulations in cases where information is transferred from local computing systems to edge devices or cloud-based servers. Hitachi Vantara plans to integrate the platform with its Lumada Data Services offering.
Infosys received no money through the deal, according to a regulatory filing earlier this month. It had supplied $1.5m for Waterline through its Innovation Fund in early 2018, after investing $4m in Waterline’s $16m series B round, which had been led by venture capital firm Partech Ventures in 2016.
Waterline had previously raised $7m of series A funding from VC firms Menlo Ventures and Jackson Square Ventures, then called Sigma West, in 2014.