Mergers and Acquistions News
Categories: Hardware
September 8th 2011, 16:30PM
Japanese-based electronics firm Hitachi today (September 8th) announced that it has acquired the Californian data storage company BlueArc.
Hitachi did not disclose the cost of the deal, but the Japanese newspaper Asahi reported that it was somewhere in the region of $500-600 million (£314-376 million).
The yen reached 75.94 to the dollar last month, a record high that will make overseas acquisitions easier for firms based in the country.
"Bringing BlueArc into the Hitachi family will enable us to better serve customers with more tightly integrated technologies, broader capabilities and deeper expertise globally," said Jack Domme, chief executive of Hitachi Data Systems.
He went on to state that their combined output will deliver cost-effective cloud infrastructures to customers as their data requirements develop.
Mike Gustafson, chief executive of BlueArc, claimed that this merger will enable the companies to accelerate their product output.
In 2010, BlueArc was noted as a top vendor in IT research and advisory company Gartner's NAS Magic Quadrant's Visionaries list. 
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