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TMCNet:  Korea Republic of,United States : SAMSUNG ELECTRONICS announces purchase of NVELO [TendersInfo (India)]

[December 17, 2012]

Korea Republic of,United States : SAMSUNG ELECTRONICS announces purchase of NVELO [TendersInfo (India)]

(TendersInfo (India) Via Acquire Media NewsEdge) Samsung Electronics Co. Ltd. has purchased privately held NVELO Inc., a Santa Clara based pioneer of storage software.

With the addition of NVELO's flagship storage technology into Samsung's advanced SSD technologies, the customers of Samsung will get access to developing and more diversified portfolio of NAND storage solutions for various computing platforms. The purchase comprises all technology and employees under NVELO Inc.

Young-Hyun Jun, EVP of Flash product & technology, Device Solutions at Samsung Electronics, said, "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." Jiurong Cheng, President and CEO of NVELO, said, "The NVELO team is excited to join the Samsung family. We look forward to accelerating storage innovation in close cooperation with Samsung storage experts as we help to deliver fully integrated SSD solutions to the market." (c) 2012 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company

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