Tuesday, March 7, 2006

Atempo Acquires Storactive

Palo Alto-based storage software provider Atempo said yesterday that it has acquired Marina del Rey-based Storactive. Financial terms were not disclosed. Storactive was developing backup and recovery software for PC platforms and continuous data protection (CDP) software. Atempo said that the acquisition would accelerate its growth into the Information Lifecycle Management (ILM) market. Both of Storactive's locations, one in Marina Del Rey and the other in Moscow, Russia, will continue to be maintained by Atempo. Storactive's development team was mostly offshore, located in Moscow, with its headquarters and sales and marketing staff located in Marina Del Rey. Storactive was backed by Mellon Ventures, Moore Capital, and Smart Technology Ventures, and received more than $15.7M in venture capital.