|By Maureen O'Gara||
|January 30, 2013 10:00 AM EST||
Hard drive giant Seagate Technology is investing $40 million in solid-state newcomer Virident.
It's part of a strategic deal that will immediately have Seagate selling Virident's flash-based PCIe storage products to its OEMs and distribution network under its own brand.
Seagate, which has previously only sold serial-SCSI-based SSDs and hybrid drives with spinning disks as well as flash, also plans to develop new flash-based storage products with Virident.
It will get a seat on the six-year-old company's board.
"This partnership validates Virident's vision of pervasive flash in the performance tier and accelerates our shared vision by bringing next-generation SCM solutions to the enterprise and web datacenters worldwide," Virident CEO Mike Gustafson said in a statement.
Virident has previously gotten $63 million from backers such as Intel, Cisco, Mitsui Global Investment, Globespan Capital Partners, Sequoia Capital and Artiman Ventures.
Separately, Seagate reported a fiscal second-quarter profit of $492 million, or $1.30 a share, on $3.7 billion in revenue. The results were better than the $1.27 analysts had expected. The company also said it shipped 58 million disk-drive units in the December quarter. "Seagate is executing well in an environment where customer demand forecasting is challenging," Steve Luczo, Seagate's CEO, said in a statement.
- "All It Took Was One E-Mail to Larry," Says Former eBay Research Director As He Moves to Google
- Google Ramps Up Its Mobile Reach: Launches "Mobile Web Search"
- VoIP Update: Yahoo! Buys DialPad
- Ericsson + Napster = World's First "Wireless Digital Music" Brand
- Free Guest Passes for the SOA World Conference & Expo in NYC
- SYS-CON i-Technology Podcast August 30, 2005
- A Flair for Food - Health-Conscious Cooking Is This Chef's Cup Of Tea
- Sony PSP May Feature Porn
- Kapow Helps Seiko UK, Provides SMS Text-Alert Services
- South Korea is World's Largest Phisher
- Will the Mac OS Now Be Offered by Dell?
- UK Targeted for Trojan Attacks