EMC Purchases CrosStor
Storage monolith EMC Corp. announced today that it would purchase CrosStor Inc. CrosStor has designed filesystems and other storage related software for nearly ten years. The deal, valued at $300 million, was a purely stock transaction. EMC issued shares in exchange for capital interests in CrosStor. EMC stock rose 1.94 to 91.00 on the news.
An EMC spokesman said that EMC valued the abilities of CrosStor’s developers, but had not current plans for releasing CrosStor products to market. CrosStor technology would be most immediately useful in EMC's line of Network Attached Storage products.