Australia's CloudCentral buys IP of American software firm DEY Storage

By VCPOST Staff Reporter

Apr 16, 2014 08:17 AM EDT

Australian firm CloudCentral has acquired the intellectual property (IP) of DEY Storage Systems, and American software company. The deal comes as CloudCentral is on its way to an ASX reverse listing in June, according to The Australian. The financial terms of the IP purchase were not disclosed in the said report.

CloudCentral chief executive officer (CEO) Kristoffer Sheather said of the deal: "The addition of Software Defined Storage services eliminates the need to pay third parties for storage and gives us more control over the future development of our platform. We can either embed our software into the cloud based storage we sell, or the software can be purchased by customers to install on their own hardware."

Sheather also said the transaction would allow the Australian cloud services provider to market its integrated cloud system at a much lower price compared to its rivals'. Their clients will also have more choices in terms of software vendors, the report explained.

CloudCentral's data center is currently located in Australia, the report added.

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