This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Western Digital Acquires VeloBit; HGST To Integrate I/O Optimization Software Into Its Solid State Drive Portfolio

SAN JOSE, Calif. and LINCOLN, Mass., July 10, 2013 /PRNewswire/ -- Western Digital ® Corporation (NASDAQ: WDC) has acquired privately held VeloBit, a provider of high-performance storage I/O optimization software. VeloBit will be fully integrated into HGST, a wholly owned subsidiary of Western Digital. Headquartered in Lincoln, MA, VeloBit enhances storage system performance with its software technology by adding a transparent acceleration layer utilizing solid state drives (SSDs). Financial terms of the transaction were not disclosed.

The acquisition builds on HGST's strategy to enhance the overall value of datacenter storage by integrating HGST SSDs with software. VeloBit's SSD caching software dramatically accelerates applications and increases server density by enabling higher I/O performance, lower latency, and more efficient usage of processor and storage resources.

Both the VeloBit acquisition and the proposed sTec acquisition by Western Digital reflect acceleration by its HGST subsidiary in the fast growing and strategic enterprise SSD space, augmenting its technology position and IP portfolio with additional engineering and design resources.

"In VeloBit we saw a great team that has developed and commercialized breakthrough I/O optimization software," said Mike Cordano, president, HGST. "The acquisition of VeloBit is an important step in our strategy to develop robust software capabilities to augment our successful SSD product portfolio."

"We are convinced that the best way to meet our customers' needs is to tightly integrate storage optimization software with the hardware," said Duncan McCallum, co-founder and CEO of VeloBit. "In HGST we have found the ideal partner to continue to develop our ground-breaking caching, compression, and cache coherence technology. This acquisition will enable us to continue to expand the range of products and services we offer to our customers."

VeloBit has won multiple competitive product benchmarks in the areas of I/O acceleration and server density optimization. VeloBit HyperCache was chosen by Storage Magazine as a 2012 Storage Product of the Year.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs