California's NetApp (Nasdaq:NTAP) announced Wednesday it had completed an all-cash deal to buy Vancouver-based software company Bycast Inc. despite the Canadian dollar's rise to a 20-month high Tuesday.
Terms of the deal were not released.
Bycast has long been considered a rising star since it was founded in 2000. It consistently ranks on the Ready to Rocket lists which Vancouver consulting company Rocket Builders produces annually to highlight up-and-coming tech ventures.
Bycast develops software to help clients manage globally-distributed repositories of images, video and records.
The acquisition helps NetApp consolidate its leadership position in niche areas within the data storage tech sector.
Manish Goel, executive vice-president, product operations for NetApp said: "Bycast extends our unified storage strategy and enhances our solution for shared storage infrastructure by adding new capabilities for global data access and mobility."