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EMC to Buy Private Software Firm

The company will acquire Rainfinity for less than $100 million.
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agreed to acquire Rainfinity, a San Jose, Calif., maker of software for networked-attached storage and file system uses.

The acquisition of the privately held company is valued at less than $100 million. EMC expects to close the deal by the end of August.

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EMC of Hopkinton, Mass., produces networked storage systems and storage software. Shares of EMC were down a penny to $13.21.

"Rainfinity is the industry's first standards-based solution available today that virtualizes Windows, Unix and Linux file systems, giving customers improved total cost of ownership across all of their heterogeneous NAS and file-server platforms," EMC explained Wednesday in a press release.