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XStormTech gets acquired

SAN management software startup AppIQ Corp. has acquired XStormTech Inc., a garage-stage outfit that has developed a storage resource management (SRM) application. AppIQ did not disclose financial terms of the deal (see AppIQ Acquires XStormTech

XStormTech is founded by Vijay Sarashetti, previously global engineer of applications and storage management at Deutsche Bank AG. He claims that he started his own SRM software company last year after examining the tools available in the market — and finding none of them suitable for his needs. XStormTech, which has fewer than five employees, has no paying customers for its still-in-beta software.

[Source : Byte&Switch]

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