Oracle is continuing to ramp up its storage solutions with the newly-announced acquisition of Pillar Data Systems.
The goal for Oracle here is simply to speed up its own storage products quicker and cheaper while making them more efficient at the same time. San Jose-based Pillar Data comes into play with its scalable SAN Block I/O storage systems that Oracle hopes will do the trick.
Naturally, Oracle will continue working on this in-house and could acquire more start-ups to meet these goals. This field is becoming more competitive as cloud computing expands, so everyone is trying to play catch up faster. One of the easiest ways for a global enterprise to do that is buy a smaller company that already does such tasks successfully.
Oracle has published several details about the transaction, which was led by an independent committee of Oracle's board of directors. Expected to close in July, the deal is "structured as a 100% earn-out with no up-front payment," and Oracle does not expect the said amount to be "material" to Oracle's overall financial position.
Additionally, Oracle's CEO Larry Ellison owns the majority of Pillar Data Systems.