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IBM buying flash memory maker Texas Memory Systems

Thu, 08/16/2012 - 1:09pm
The Associated Press

IBM said Thursday it has agreed to buy privately held Texas Memory Systems, which designs and sells high-speed flash computer memory.

Financial terms of the deal were not disclosed. The transaction is expected to close later this year.

Texas Memory Systems is based in Houston and has about 100 employees.

IBM said it plans to invest in the company's product portfolio and will look to eventually integrate Texas Memory's technology into data storage, servers, software and other IBM offerings.

Shares of IBM added $2.29 to $200.69 in afternoon trading.

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