New York-listed data storage company EMC has agreed to buy corporate venture-backed peer Greenplum for an undisclosed sum reported to have been more than $300m according to news provider Om Malik.
Greenplum has raised at least $74m in VC funding. Sun Microsystems (subsequently acquired by EMC’s data storage peer Oracle) and enterprise software company SAP backed its final, series C round of $27m in early 2008. Venture capital firm Meritech Capital had led this round
This series C round was subsequently extended in mid-2009 by $32m, according to news provider VentureWire quoting regulatory filings.
The firm’s $15m of series B round equity in early 2007 came from VCs Sierra Ventures, Mission Ventures, Dawntreader Ventures (formerly SoundView Ventures) and EDF Ventures, while Hudson Ventures has also backed Greenplum.
Greenplum will form the foundation of a new data computing product division within EMC’s Information Infrastructure business as analysts at IDC said over the next 10 years the amount of digital data created annually will grow 44 fold.