Seagate invests $40 million in Virident, forges flash pact

Summary:Seagate gets a board seat and Virident grabs access to the storage giant's channel. Seagate will offer Virident's flash-PCIe storage products.

Seagate Technology said Monday that it will invest $40 million in Virident in a move that will give it more flash-based storage options.

Under the deal, Seagate gets a board seat and Virident grabs access to the storage giant's channel. Seagate will offer Virident's flash-PCIe storage products.

virident

 

Storage players have increasingly been beefing up their flash portfolios and partnerships as solid-state drives gain traction in the data center for so-called "hot" data that needs speed. 

Meanwhile, the two companies will develop solid-state hardware and software products. For Seagate, the Virident deal gives it a larger enterprise storage footprint. Virident gets a well-heeled big brother.

Separately, Seagate reported second quarter earnings of $492 million, or $1.30 a share, on revenue of $3.7 billion. Seagate had already outlined its second quarter results. Non-GAAP earnings in the quarter were $1.38 a share.

Seagate said it shipped 58 million units.

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Topics: Storage, Data Centers

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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