EMC Targets Cloud Computing With Pi Buy

Storage giant EMC has agreed to acquire Seattle-based startup Pi, which develops software and services that help users manage and share their personal data.The acquisition, expected to close later this quarter, is part of Hopkinton, Mass.-based EMC's strategy to develop a cloud computing infrastructure, according to ChannelWeb. Cloud computing involves the use of shared Internet computing resources, rather than having local servers or personal devices handling users' applications. For SMBs, that translates to cost efficiency in terms of not having to buy their own hardware.

Pi CEO and founder Paul Maritz will join EMC as president and general manager of the company's new Cloud Infrastructure and Services Division when the deal closes, sometime this quarter.

"The proliferation of information in the hands of consumers, businesses and organizations of all sizes has brought about massive digital information growth on a scale never imagined," EMC leader Joe Tucci said in a statement.

Pi doesn't have any products or services in the market, though it has been beta testing its first products -- one aimed at corporate end users and the other at consumers -- that access, organize and protect data from anywhere.InfoWorld, ChannelWeb