Privately held TMS designs solid state systems — storage systems that allow faster access to data than hard disk drives, while consuming less power. The company currently employs 100 people, but it says the purchase by IBM will lead to its hiring more engineers.
“This acquisition is really a major step forward for us.”
Erik Eyberg is a senior analyst at TMS.
“We believe that this acquisition will allow us to develop our technology and integrate it into the IBM technology portfolio in a way that will really expand our business and, obviously, support significant revenue for IBM in the future as well.”
The deal is expected to close later this year. Financial terms of the deal were not disclosed.