Fusion-io to Acquire IO Turbine

Today Fusion-io announced a definitive agreement to acquire IO Turbine, Inc., a provider of caching solutions for virtual environments. Under terms of the agreement, Fusion-io will pay up to approximately $95 million, subject to purchase price adjustments.

In addition to delivering performance that finally unleashes the potential of virtualization, we believe the combined Fusion-io and IO Turbine solution will also boost efficiency by reducing the costs associated with running expensive backend shared storage, as well as extend the lifespan of enterprises’ current storage area networks.”

Fusion-io is on a roll with revenue of $71.7 million for the fiscal fourth quarter of 2011, up 556% from $10.9 million for the same quarter of 2010.

Read the Full Story. For more on what IO Turbine brings to the table, check out my podcast interview with CEO Rich Boberg.

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