With an aim to expand its cloud-based storage business, Microsoft Corporation has reached a definitive agreement to acquire StorSimple.
The two companies have not revealed the financial details of the deal yet.
Based out of Santa Clara, StorSimple offers cloud-integrated Storage (CiS) solutions that combine physical data management services like basic storage, backup and recovery with cloud integration. With the acquisition of StorSimple, Microsoft Corporation is looking at leveraging the company?s hybrid approach, which integrates on-premise storage with cloud storage leading cost reductions by up to 90 per cent and complete data protection.
StorSimple?s clients comprise large enterprises across verticals such as retail, oil and gas, manufacturing, consumer goods, healthcare, and financial services.
