TMCnet News
Samsung Electronics Acquires NVELOSEOUL, South Korea --(Business Wire)-- Samsung (News - Alert) Electronics Co. Ltd., a world leader in advanced semiconductor solutions, announced today that it acquired privately held NVELO, Inc., a Santa Clara, Calif.-based pioneer of storage software. By intelligently managing and optimizing the use of SSDs in the storage subsystem, SSD caching has become an attractive solution for both consumer and enterprise computing platforms. The timely integration of NVELO's flagship storage technology into Samsung's best-in-class SSD technologies will give Samsung customers access to an ever-evolving and more diversified portfolio of NAND storage solutions suitable for a broad range of computing platforms. "The acquisition of NVELO will enable us to extend our ability to provide SSD related storage solutions to customers. We are pleased with this transaction as the employees of NVELO share our vision to take SSD storage into the next-generation of performance and reliability," said Young-Hyun Jun, executive vice president of Flash product & technology, Device Solutions, Samsung Electronics. "The NVELO team is excited to join the Samsung family," said Jiurong Cheng, president and CEO NVELO. "We look forward to accelerating storage innovation in close cooperation with Samsung storage experts as we help to deliver fully integrated SSD solutions to the market." The acquisition involves all technology and personnel under NVELO, Inc. Further details of the agreement were not disclosed. About Samsung Electronics Co., Ltd. Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2011 consolidated sales of US$143.1 billion. Employing approximately 227,000 people in 203 offices across 75 countries, the company operates two separate organizations to coordinate its nine independent business units: Digital Media & Communications, comprising Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, and Digital Imaging; and Device Solutions, consisting of Memory, System LSI and LED. For more information, please visit www.samsung.com. About NVELO NVELO, Inc. is a pioneer in innovative storage software, bringing new intelligence into storage subsystems to break the I/O bottleneck in today's computing systems. Formed as a spin-off company during the acquisition of Denali Software by Cadence Design Systems (News - Alert), NVELO employs world-class engineering and management teams for R&D on its flagship product "Dataplex", which is now in the process of being introduced to the market through Computer OEM's, HDD and SSD vendors. NVELO is located in Santa Clara, California. For more information, visit www.NVELO.com. Samsung and the stylized Samsung design are trademarks and service marks of Samsung Electronics Co., Ltd. Other trademarks are the property of their respective owners.
|
