So. Much. Tech.
Some of the biggest names in tech are coming to TNW Conference in Amsterdam this May.
In that regard, Xsigo complements Oracle’s software, server, storage, and network product portfolio.
For Oracle, it’s the sixth acquisition this year. It has recently snapped up companies like Skire, Involver, Vitrue and Collective Intellect. The company recently reported very solid earnings for the past quarter.
Says John Fowler, Oracle Executive Vice President of Systems:
“The proliferation of virtualized servers in the last few years has made the virtualization of the supporting network connections essential. With Xsigo, customers can reduce the complexity and simplify management of their clouds by delivering compute, storage and network resources that can be dynamically reallocated on-demand.”
The transaction is subject to customary closing conditions and approvals and is expected to close in the fall of 2012. Until then, both firms say they will continue to operate independently.
After the transaction closes, Xsigo technology is expected to be integrated with the Oracle stack, providing a “complete set of virtualization capabilities for cloud environments”.
Xsigo management and employees are expected to join Oracle, the company said in a statement.
Xsigo was originally founded in 2004 and headquartered in San Jose, California. The company raised funding from Kleiner Perkins, Khosla Ventures, Greylock Partners and North Bridge Venture Partners, among others.