Rabu, 02 Januari 2008

IBM to hold Israel news conference after XIV reports (Reuters)

TEL AVIV (Reuters) - International Business Machines Corp (IBM.N) said it will hold a news conference in Tel Aviv on Wednesday afternoon but gave no details on what it would address.

Earlier in the week Israeli media reported that IBM was in advanced talks to buy Israeli start-up XIV Information Systems for 300 million to 350 million.

According to the Globes financial newspaper, XIV has developed a system that replaces conventional storage technologies through the use of grid technology and less expensive hardware.

The news conference was scheduled for 1330 p.m. (6:30 a.m. EST).

(Reporting by Tova Cohen; Editing by Rory Channing)

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