IT storage technology company EMC has agreed to acquire US-based cloud infrastructure developer Cloudscaling for a sum of less than $50m, Bloomberg reported on Tuesday.
The deal will give an exit to networking technology provider Juniper Networks, data storage company Seagate Technology and venture capital firm Trinity Ventures, all three of which invested in Cloudscaling’s $10m series B round in May 2013.
Trinity had earlier provided series A funding for Cloudscaling in 2011, which sources told Silicon Angle totalled “roughly $5m.”
Cloudscaling’s Open Cloud System cloud infrastructure software is designed to work with next-generation cloud applications while being used across a large number of computers, overseen by enterprise data centres.
EMC made the purchase in order to enhance its cloud platform support, adding a compatible software product to its storage hardware.