NetApp Acquires Austin-based CacheIQ

NetApp has acquired Austin-based CacheIQ, a privately-held a privately storage solutions company, for an undisclosed amount, according to a NetApp news release.
CacheIQ was started in 2010 by Joel Trammel and other veteran storage and networking entrepreneurs, according to its CrunchBase profile. The company raised $6 million in angel funding from 25 private investors.
“The company is developing software to solve the network storage bottlenecks that plague today’s data centers,” according to its profile.
“The acquisition will provide NetApp with intellectual property that extends its capabilities to support nondisruptive operations for enterprise data center environments,” according to the NetApp news release. “NetApp will integrate this intellectual property into its product offerings over time.”
The Austin Business Journal reported on Wednesday that CacheIQ had 14 employees in Austin and that it bought “the intellectual property of Austin-based Storspeed Inc., which was founded in 2007.”
Also, the Austin Business Journal reported that Trammel, chairman of the Austin Technology Council, previously co-founded Austin-based NetQoS Inc. which was sold for $200 million.

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