In order to strengthen its portfolio of information governance software, the tech giant IBM(NYSE) is mulling to acquire e-discovery software vendor StoredIQ.
Established a decade back, the StoredIQ is a Austin, Texas based firm that provides e-discovery systems which further facilitate organizations to index, store, de-duplicate and delete their unstructured data. This way, it helps organizations to comply with regulations, respond to litigation and cut storage costs by reducing data volume. Presently, StoredIQ has over 120 enterprise customers worldwide, including companies in the financial services, health care, government and manufacturing industries.
Market analysts added, StoredIQ is IBM’s latest acquisition in the information management space. Earlier, IBM purchased e-discovery vendor PSS Systems in 2010 and enterprise search vendor Vivisimo in 2012.
The monetary details of the deal have not been disclosed by any of the firms. Although, there is no official word to backup the story, it is expected that IBM will complete the acquisition within the first three months of 2013.
