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    EMC buys flash memory company

    Associated Press – Thu, May 10, 2012

    HOPKINTON, Mass. (AP) — EMC Corp., one of the world's largest makers of data-storage computers, said Thursday that it was adding to its flash storage product lineup with the purchase of an Israeli company.

    Financial terms of the deal were not disclosed. But EMC said that its all-cash purchase of the privately held XtremIO is not expected to affect its earnings this year.

    XtremIO, founded in 2009, specializes in making equipment for flash memory.

    EMC sells storage products used for "cloud computing," a catchphrase for the practice of storing software and information on remote servers kept outside a home or office instead of on a single computer kept on the owner's premises.

    Shares of the Hopkinton, Mass., company fell $1.14, or 4.2 percent, to $26.33 in afternoon trading. Shares remain close to a 52-week high of $30, reached in March.

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