StoredIQ Acquired By IBM

StoredIQ, the developer of enterprise, electronic discovery software, has been acquired by IBM, IBM announced this morning. Financial terms of the buy were not disclosed. According to IBM, the acquisition will add to its prior investments in Information LIfecycle Governance. StoredIQ's software is used for electronic discovery and to find information in unstructured data. StoredIQ becomes part of IBM;s Software Group. StoredIQ was venture backed by PerformanceEdge Partners, and S3 Ventures; the firm was led by Phil Myers.