|[December 14, 2012]
Samsung Electronics Acquires NVELO
SEOUL, South Korea --(Business Wire)--
Samsung (News - Alert) Electronics Co. Ltd., a world leader in advanced semiconductor
solutions, announced today that it acquired privately held NVELO, Inc.,
a Santa Clara, Calif.-based pioneer of storage software. By
intelligently managing and optimizing the use of SSDs in the storage
subsystem, SSD caching has become an attractive solution for both
consumer and enterprise computing platforms. The timely integration of
NVELO's flagship storage technology into Samsung's best-in-class SSD
technologies will give Samsung customers access to an ever-evolving and
more diversified portfolio of NAND storage solutions suitable for a
broad range of computing platforms.
"The acquisition of NVELO will enable us to extend our ability to
provide SSD related storage solutions to customers. We are pleased with
this transaction as the employees of NVELO share our vision to take SSD
storage into the next-generation of performance and reliability," said
Young-Hyun Jun, executive vice president of Flash product & technology,
Device Solutions, Samsung Electronics.
"The NVELO team is excited to join the Samsung family," said Jiurong
Cheng, president and CEO NVELO. "We look forward to accelerating
storage innovation in close cooperation with Samsung storage experts as
we help to deliver fully integrated SSD solutions to the market."
The acquisition involves all technology and personnel under NVELO, Inc.
Further details of the agreement were not disclosed.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in semiconductor,
telecommunication, digital media and digital convergence technologies
with 2011 consolidated sales of US$143.1 billion. Employing
approximately 227,000 people in 203 offices across 75 countries, the
company operates two separate organizations to coordinate its nine
independent business units: Digital Media & Communications, comprising
Visual Display, Mobile Communications, Telecommunication Systems,
Digital Appliances, IT Solutions, and Digital Imaging; and Device
Solutions, consisting of Memory, System LSI and LED. For more
information, please visit www.samsung.com.
NVELO, Inc. is a pioneer in innovative storage software, bringing new
intelligence into storage subsystems to break the I/O bottleneck in
today's computing systems. Formed as a spin-off company during the
acquisition of Denali Software by Cadence Design Systems (News - Alert), NVELO employs
world-class engineering and management teams for R&D on its flagship
product "Dataplex", which is now in the process of being introduced to
the market through Computer OEM's, HDD and SSD vendors. NVELO is located
in Santa Clara, California. For more information, visit www.NVELO.com.
Samsung and the stylized Samsung design are trademarks and service
marks of Samsung Electronics Co., Ltd. Other trademarks are the property
of their respective owners.
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