Samsung acquires storage firm NVELO | ZDNet
Summary
The company develops next-generation SSD storage solutions, and works to manage and optimize the use of solid state drives within subsystems. This kind of "SSD caching" is used in both consumer and enterprise platforms, increasing the speed of retreiving data in a number of devices, including desktops and smartphones, from both hard drives and SSDs. The acquisition of two-year old NVELO, albeit low-key, means that Samsung will increase its storage space portfolio, and will potentially give the tech giant more options when it comes to boosting the memory and capabilities of its handsets and tablet products, which are rivals to Apples iPad and iPhone. 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. To cope with rising demand, the Korean electronics giant has reportedly invested between $3-4 billion in an Austin, TX.-based plant this year to renovate chip-making production line facilities.