EMC to acquire Pi to round out cloud computing unit
With approximately 100 engineers located in the United States, Canada and India, the Seattle-based Pi develops software and online services to enable individuals to control how they find, access, share and protect their increasing volumes of digital information.
Pi is in the process of beta testing its first products, the Hopkinton, Mass.-based EMC said.
“The proliferation of information in the hands of consumers, businesses and organizations of all sizes has brought about massive digital information growth on a scale never imagined… Pi’s technology is very complementary to our emerging cloud infrastructure strategy,” Joe Tucci, EMC president, chairman and CEO, said.
Cloud computing uses utility computing and other approaches to the use of shared computing resources, rather than having local servers or personal devices handling users' applications. Cloud computing can also offer financial incentives since access to remote servers is now a commodity and much less expensive than having a lab or hospital maintain its own local computer room with hardware.
Upon completion of the acquisition, Paul Maritz, Pi’s founder and CEO, will join EMC’s executive management team as president and general manager of the newly formed Cloud Infrastructure and Services Division, EMC said.
EMC also said that Pi will operate as an independent subsidiary of EMC and will continue expanding operations in its Seattle headquarters and other offices in Montreal, and Bangalore, India.
The acquisition of Pi will be an all-cash transaction and is expected to close in the first quarter of 2008, though no further details of the acquisition will be disclosed, according to EMC.