Cloud Computing Boosts Data Storage Demand
According to The Bedford Report cloud storage is quickly growing from a relatively small percentage of the overall IT market to a sustainable and significant opportunity. As reported on Sys-Con, larger storage companies including Brocade Communications Systems, Inc. (NASDAQ: BRCD) and NetApp, Inc. (NASDAQ: NTAP) have found acquisitions to be a viable way to deal with the uptick in competition.
"Last month NetApp said it would acquire Engenio -- the storage-systems business of LSI Corporation -- for $480 million in cash. The Engenio business unit will be integrated into NetApp's business functions and will be responsible for product development.
"When Brocade Communications reported fiscal first quarter earnings, the company said clients were investing in data center networking to adopt 'virtualization" and "cloud computing,' increasingly popular technologies that allow companies to manage data more efficiently."
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