New York Stock Exchange-listed IBM will buy StoredIQ, a privately held company based in Austin, Texas, for an undisclosed amount.
IBM says StoredIQ will advance its efforts to help clients derive value from big data and respond more efficiently to litigation and regulations, dispose of information that has outlived its purpose and lower data storage costs.
StoredIQ software provides scalable analysis and governance of disparate and distributed email as well as file shares and collaboration sites. This includes the ability to discover, analyse, monitor, retain, collect, de-duplicate and dispose of data. In addition, StoredIQ can rapidly analyse high volumes of unstructured data and automatically dispose of files and emails in compliance with regulatory requirements, IBM says.
Through the deal, IBM is adding to its previous investments in information lifecycle governance. Adding StoredIQ to IBM's information lifecycle governance allows companies to have more effective governance of the vast majority of data, including efficient electronic discovery and its timely disposal, to eliminate unnecessary data that consumes infrastructure and elevates risk, says IBM.
"As a result, business leaders can access and analyse big data to gain insights for better decision-making. Legal teams can mitigate risk by meeting e-discovery obligations more effectively. Also, IT departments can dispose of unnecessary data and align information cost to value to take out excess costs."
"CIOs and general counsels are overwhelmed by volumes of information that exceed their budgets and their capacity to meet legal requirements," said Deidre Paknad, VP of Information Lifecycle Governance at IBM.
Phil Myers, StoredIQ CEO, says "IBM and StoredIQ are longstanding partners with existing integration between IBM's information lifecycle governance suite and StoredIQ's active data management software".
StoredIQ has more than 120 customers worldwide, including global leaders in financial services, healthcare, government, manufacturing and other sectors. IBM intends to incorporate StoredIQ into its software group and its information lifecycle governance business.
The acquisition of StoredIQ is subject to the usual closing conditions and is expected to close in the first quarter of 2013.
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