Cisco enters data storage market with purchase of Whiptail

By Nicola Leske and Nadia Damouni (Reuters) – Cisco Systems Inc on Tuesday announced its first foray into the data storage market, saying it would pay $ 415 million to acquire privately held storage system maker Whiptail. Cisco said it will pay cash and incentives for the acquisition, expected to close in the first quarter of 2014. Whiptail, founded in 2008 and based in Whippany, New Jersey, makes storage systems based on flash memory chips, which allow data to move through servers with greater speed and efficiency as well as higher volume. …

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