According to a report from an Israeli news source, Globes, IBM is set to pay between $300 and $350 million for an Israeli startup, XIV, which is still in stealth mode and reportedly specializes in grid storage. According to the Globes report:

Since inception only $3 million dollars have been invested in the company, which came from chairman Moshe Yanai, formerly of storage solutions giant EMC, and private investors.

EMC, meanwhile, has its own plans to release a grid storage system next year, according to announcements made at its Innovation Day in Boston in November.