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IBM to spend $1.7 billion for Netezza

It has been a year of billion dollar take overs, with companies like Intel taking over a few companies to expand their portfolio and dip their toes into new sectors. News has just hit that IBM are buying Netezza Corp for $1.7 billion, joining other technology giants in expansion and adoption.

IBM have described Netezza as a “leading provider of high-performance analytics in a data warehousing appliance that can be up and running in a matter of hours, handling complex analytic queries 10 to 100 times faster than traditional systems.”

Analysts reckon that another bidding war could happen however. “We could see additional higher bids for Netezza, as we have seen this dynamic in some other technology takeouts over the past two years,” Roth Capital Partners analyst Nathan Schneiderman said.

KitGuru says: Data storage is growing in importance as companies adopt cloud computing – accessing computing power through a network, rather than an in house data center.

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