An overview of the week in deals in the Irish and global technology sector.
Magnet buys UK FTTH player Velocity 1 – reveals fibre deal with Sky
Magnet Networks has entered the UK fibre-to-the-home (FTTH) market with the acquisition of a 90pc stake in UK fibre broadband player Velocity 1 from Quintain Estates and Development plc for an undisclosed sum. The move will see Magnet also work with Sky to provide TV services via fibre-to-the-home.
Quintain Estates will retain a 10pc stake in Velocity 1.
Using Magnet Networks’ Dublin offices as a shared services centre, the company will offer triple play fibre broadband services to UK homes and businesses on an open access basis.
Magnet Networks CEO Mark Kellett says the acquisition will make Magnet the only firm in the UK providing FTTH services over 100Mbps.
EMC acquires Israeli start-up XtremIO, reportedly for US$430m
Data storage giant EMC has announced it has acquired the privately held flash storage start-up XtremIO. While it has not disclosed the financial terms of the deal, reports are circulating that EMC splashed out US$430m to take the Israeli-based company under its wing.
The Israeli business news site Globes has reported that EMC paid US$430m for XtremIO.
In its press release, EMC described XtremIO, which was set up in 2009, as being "one of the world’s premier Flash storage architecture pioneers".
EMC said XtremIO’s technology would complement its range of Flash-based systems and software.
Dell completes SonicWALL acquisition
Computing giant Dell has finished its acquisition of network security firm SonicWALL, Inc, expanding its software and service portfolio. Financial terms of the deal were not disclosed.
SonicWALL, Inc. also provides secure remote access, email security, backup and recovery, and management and reporting.
“Customers who are looking for simplified and comprehensive security solutions will benefit from the addition of SonicWALL to our software portfolio,” said John Swainson, president, Dell Software Group.
Matt Medeiros, president and CEO of SonicWALL, said the deal provides SonicWALL with great growth opportunities for its security offerings.
Stay informed – get daily updates on the latest happenings in technology directly to your inbox.
Buy your tickets now!