Samsung acquires storage firm NVELO

Samsung acquires storage firm NVELO

Summary: Electronics firm Samsung has announced its purchase of storage solutions firm NVELO.

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Samsung Electronics has agreed to purchase storage software firm NVELO.

The Korean firm announced the purchase of Santa Clara, Calif.-based NVELO on Friday. The company develops next-generation SSD storage solutions, and works to manage and optimize the use of solid state drives within subsystems. This kind of "SSD caching" is used in both consumer and enterprise platforms, increasing the speed of retreiving data in a number of devices, including desktops and smartphones, from both hard drives and SSDs.

The acquisition of two-year old NVELO, albeit low-key, means that Samsung will increase its storage space portfolio, and will potentially give the tech giant more options when it comes to boosting the memory and capabilities of its handsets and tablet products, which are rivals to Apple's iPad and iPhone. 

The details of the deal are currently sketchy, and no financial details have been disclosed. However, all of NVELO's staff will be transferring to the electronics giant, and the company's technological developments will be handed over.

"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.

Earlier this year, Samsung began producing 2GB LPDDR3 DRAM chips for mobile devices, which can retrieve data at higher rate of 1,600 Mbps in comparison to its predecessor, the 1,066 Mbps LPDDR2. In addition, the firm developed 128GB flash storage to contain the chip, which may suggest that the firm is looking more towards boosting memory capabilities as a way to retain its share within the mobile device market.

To cope with rising demand, the Korean electronics giant has reportedly invested between $3-4 billion in an Austin, TX.-based plant this year to renovate chip-making production line facilities.

Topics: Samsung, Servers, Tech Industry

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