IT giant IBM has announced its intention to acquired information management software vendor StoredIQ.
Texas-based StoredIQ sells tools that analyse and manage unstructured data stored in various repositories.
Its products fall into three categories: ‘Active data intelligence’, which analyses unstructured data; ‘Active eDiscovery’, which retrieves information for legal purposes; and ‘Active information governance’, which imposes information retention policies for compliance purposes.
The company’s tools will be integrated into IBM’s information lifecycle governance product set, which includes its existing eDiscovery, data retention and records management systems.
"Adding StoredIQ to IBM’s information lifecycle governance suite gives organisations more effective governance of the vast majority of data, including efficient electronic discovery and its timely disposal, to eliminate unnecessary data that consumes infrastructure and elevates risk," IBM said in a statement.
IBM said the deal builds on its prior acquisition of Vivisimo, a data navigation and visualisation company that allows customers to search for information in disparate data sets.
StoredIQ was founded in 2001 as Deepfile Corporation. It rebranded in 2005 and narrowed its focus onto regulatory compliance. In 2010, it received $10 million in extra funding.
Last year, it hired Tom Bishop – formerly chief technology officer of IBM’s Tivoli systems management platform – as its CTO.
Financial terms of the deal were not disclosed.