Western Digital Corp. (Nasdaq: WDC) has purchased VeloBit, which develops storage-optimization software.
Lincoln, Mass.-based VeloBit’s software aims to enhance storage system performance. VeloBit was founded in September 2010 and was funded by venture capital firms Fairhaven Capital and Longworth Venture Partners. Terms of the deal were not disclosed.
Western Digital will incorporate the target into HGST, one of its subsidiaries that focuses on data center storage.
Wells Fargo Securities LLC was VeloBit’s financial adviser in connection with the deal.
Western Digital, headquartered in Irvine, Calif., develops digital store products, networking equipment and home entertainment products through its subsidiaries, WD, HGST and G-Technology.