Fusion-io Acquires IO Turbine

Salt Lake City-based Fusion-io, the developer of flash-based disk drive technology, said Thursday aftenroon that it has entered into a definitive agreement to buy IO Turbine, a developer of caching products for virtual environments. Fusion-io said it will pay approximately $95M for IO Turbine. Fusion-io said the acquisition would help solve datacenter inefficiencies for its customers, and that it will integrate IO Turbine's software into its platform. IO Turbine's 20 employees will join Fusion-io's engineering team. IO Turbine was venture backed by Lightspeed Ventures.