Home > Uncategorized > Chennai Based Vembu Technologies Acquires Cloud Nucleus

Chennai Based Vembu Technologies Acquires Cloud Nucleus

Chennai based cloud computing firm – Vembu Technologies has acquired another city-based firm, CloudNucleus, in a deal valued at around $10 Mn.

Srivatsan Venkatesan who began CloudNucleus almost two years ago will join Vembu as vice-president, product management.

The deal was a mixture of cash and equity. This is the first acquisition for the seven-year-old firm.

Post acquisition, Vembu and Cloud Nucleus will integrate engineering and development functions to accelerate the development and delivery their data protection solutions.

Vembu, founded by IIT-Madras alumnus Sekar Vembu in 2004, provides cost effective backup solutions.Vembu’s flagship product, StoreGrid, is a network-based disk-to-disk software system for backing-up desktops and servers.

CloudNucleus delivers Virtualization based Data Protection and Disaster Recovery Products.

Categories: Uncategorized
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