Ker-ching! IBM paid 10 times Cleversafe’s funding for the startup

IBM has revealed it shelled out $1.309bn for Cleversafe and its object storage software in October last year.

This tidy cash sum, almost 10 times Cleversafe’s total of $135.4mn funding, was included in a 10-K document IBM filed with the SEC on Feb 23. That represents a lovely payout for Cleversafe’s investors.

IDC reckons Cleversafe and startup Scality are leading the object storage market. As Scality’s funding total is $90m then back-of-the-envelope maths says it’s almost a unicorn, and worth $900m to an acquirer.

That will bring a smile to the face of Scality’s execs and investors. ®