EMC Acquisition no Pi in the Sky

February 25, 2008: EMC will soon be giving its cloud computing capabilities a boost after announcing a new agreement to acquire software and personal information management services provider Pi Corporation.

Pi develops software and online services to help users to control how they find, access, share and protect their digital information, and despite currently being in the process of beta testing its first products, the company’s technology has caught EMC’s eye.

“The proliferation of information in the hands of consumers, businesses and organisations of all sizes has brought about massive digital information growth on a scale never imagined,” says EMC President, Chairman and CEO Joe Tucci.

According to Pi founder and CEO Paul Maritz, the firm’s solutions are aimed at providing ways for “consumers and corporate information workers to create, repurpose, store, share and access personal information in novel ways, taking advantage of the ubiquity of computing power and a new interconnected world.”

Tucci says this vision syncs up tightly with EMC’s emerging cloud infrastructure strategy.

The all-cash deal is expected to be completed in the first quarter of 2008. EMC expects the acquisition to be dilutive by $.01 per diluted share in 2008.

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