Samsung Electronics Co. Ltd. has acquired a young San Diego company that produces software for “virtual machine” computing.
The South Korean electronics giant said late Nov. 2 that it bought Proximal Data Inc., based in the University Towne Center area. Terms of the sale were not disclosed.
Proximal Data’s specialty is caching software — code that improves storage performance by controlling and storing frequently used data more efficiently. Proximal Data markets the software under the name AutoCache.
Rory Bolt is CEO of the San Diego firm, which was incorporated in 2011. Company investors include Avalon Ventures, Divergent Ventures and Correlation Ventures, according to the Proximal Data website. TechCrunch’s CrunchBase website reports that investors have put $8 million into the company through April 2013.
Samsung had recent annual sales of $216.7 billion and counts 286,000 employees in 80 countries.