Diligent – Sold!
Right before the holiday (Passover), IBM announced it has acquired Diligent Technologies, a Gemini portfolio company. The deal terms were not disclosed, but I can definitely say that it was a good exit for the company, for Gemini, and for our LPs. My partners Adi Pundak Mintz and Avi Hasson were responsible for Diligent. For Adi this is the second exit in the past 6 months.
About the company: "Diligent is a world-class innovator in enterprise-class disk-based data protection solutions. Diligent's ProtecTIER platform is the industry's most cost-effective and robust disk-based data protection solution on the market. Powered by HyperFactor, a revolutionary "game-changing" inline data de-duplication technology, ProtecTIER eliminates redundant data and radically reduces the amount and cost of physical storage required. A first-of-its-kind technology, the platform provides a single instance store for backup and recovery, archive, and compliance applications."
In other words, Diligent is all about backup and de-duplication. Congratulations to Doron Kempel, Ron Asher, and the rest of the Diligent team.
One more thing about this acquisition. It's amazing that IBM acquired 3 Israeli storage companies in the past few months. They are basically creating a large scale storage play out of Israel. Will be interesting to see if this trend continues in 2H 2008 and in 2009.
Congrats! What a great way to kick off the chag!
Posted by: jon burg | April 27, 2008 at 01:12 PM