Samsung has announced the purchase of Santa Clara, California-based Nvelo, a developer of SSD technology.
The latter develops next-generation SSD storage solutions, as well as managing and optimizing the use of solid state drives within subsystems; it's a form of "SSD caching" and is used by consumers, as well as enterprises. SSD caching essentially increases the speed of obtaining data in a variety of devices such as smartphones and desktops from both hard drives and SSDs.
The details of the deal failed to divulge financial details. That said, Samsung did confirm that all of Nvelo's staff and the firm's technological developments will be handed over to its new parent company.
"The acquisition of Nvelo will enable us to extend our ability to provide SSD related storage solutions to customers. We are pleased with this transaction as the employees of Nvelo share our vision to take SSD storage into the next-generation of performance and reliability," said Young-Hyun Jun, executive vice president of Flash product & technology, Device Solutions, Samsung Electronics.
Responding to increasing demands, Samsung is said to be investing between $3 to 4 billion in an Austin, Texas-based plant to upgrade chip-making production line facilities.
