IBM to buy StoredIQ for undis­closed price

Ac­qui­si­tion will add to com­pany’s sta­ble of data man­age­ment firms.

Austin American-Statesman - - FRONT PAGE - By Kirk Laden­dorf kladen­dorf@states­man.com

StoredIQ, founded in 2001 and in­volved in‘big data an­a­lyt­ics,’ helps com­pa­nies re­spond more ef­fi­ciently to lit­i­ga­tion and reg­u­la­tions.

IBM Corp. said Wed­nes­day it has agreed to buy Austin­based StoredIQ for an undis­closed price.

StoredIQ, founded in 2001 and in­volved in “big data an­a­lyt­ics,” helps com­pa­nies re­spond more ef­fi­ciently to lit­i­ga­tion and reg­u­la­tions and dis­pose of data that has out­lived its pur­pose. The Austin com­pany had raised $40 mil­lion in pri­vate in­vest­ment by 2010 and had 50 em­ploy­ees.

IBM Vice Pres­i­dent Ken Bis­conti said many firms are be­set with grow­ing moun­tains of busi­ness data, most of which is of lit­tle busi­ness value. The com­puter gi­ant calls that ex­pand­ing field in­for­ma­tion life cy­cle gov­er­nance and says it has be­come a big cost cen­ter for large com­pa­nies that are sub­ject to law­suits and reg­u­la­tory com­pli­ance.

StoredIQ’s soft­ware en­ables com­pa­nies to dis­pose of un­needed data in a con­sis­tent, au­to­mated and legally de­fen­si­ble man­ner, Bis­conti said. It also helps com­pa­nies stream­line the amount of data that is rel­e­vant to le­gal dis­cov­ery re­quests, and so have sub­stan­tial sav­ings in re­spond­ing to elec­tronic dis­cov­ery re­quests.

Re­search firms es­ti­mate that the global mar­ket for data gov­er­nance so­lu­tions is about $4 bil­lion a year and grow­ing at about 14 per­cent a year.

IBM has in­vested more than $16 bil­lion in buy­ing more than 30 an­a­lyt­ics-re­lated tech­nol­ogy com­pa­nies over the past sev­eral years. The ac­qui­si­tion of StoredIQ builds on IBM’s 2010 ac­qui­si­tion of PSS Sys­tems and Vivisimo in

adding to IBM’s ca­pa­bil­i­ties in rapid dis­cov­ery, ef­fec­tive gov­er­nance and timely dis­posal of data.

“Chief in­for­ma­tion of­fi­cers and gen­eral coun­sels are over­whelmed by vol­umes of in­for­ma­tion that ex­ceed their bud­gets and their ca­pac­ity to meet le­gal re­quire­ments,” said Dei­dre Pak­nad, IBM’s vice pres­i­dent of in­for­ma­tion life cy­cle gov­er­nance. “With this ac­qui­si­tion, IBM adds to its unique strengths as a provider able to help CIOs and at­tor­neys rapidly drive out ex­cess in­for­ma­tion cost and mit­i­gate le­gal risks while im­prov­ing in­for­ma­tion util­ity for the busi­ness.”

Phil My­ers, CEO of StoredIQ, said his com­pany and IBM are long­stand­ing part­ners in data man­age­ment. “To­gether, IBM and StoredIQ can em­power or­ga­ni­za­tions to more ef­fi­ciently use and gov­ern their un­struc­tured data to in­crease its value and elim­i­nate un­nec­es­sary cost and risk.”

‘With this ac­qui­si­tion, IBM adds to its unique strengths as a provider.’ Dei­dre Pak­nad,

IBM’s vice pres­i­dent of in­for­ma­tion life cy­cle gov­er­nance

StoredIQ has more than 120 cus­tomers world­wide, in­clud­ing lead­ers in fi­nan­cial ser­vices, health care, government and man­u­fac­tur­ing. The ac­qui­si­tion is ex­pected to close in the first quar­ter of 2013. 25 per­cent next year to over­see the growth.

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