Everybody Unregenerate storage geeks talk about creating globally coherent distributed block storage services, but YottaYotta has done something about it. The busy elves at YY’s Edmonton HQ have done it, and now they have EMC’s investment to prove it.
Senior EMC executives today confirmed that EMC has invested, so far, about US$4 million in the Canadian company. In addition, there are several on-going projects at large EMC customers. As these demonstrate the utility of YY’s products, EMC expects to make another, larger investment. Concurrent with that investment it is expected that EMC will ink an OEM deal with YY.
The lead VC for YY, Technocap, a Montreal-based firm, badly needs YY to be a success since so many of their other dot-bomb era investments, including the very expensive Hyperchip, have gone bust. Richard Prytula, Techocap’s president, has privately described EMC as a “dream” partner while publicly remaining mum about the EMC relationship.
I hate to rain on their parade, but EMC has turned out to be more of a nightmare for many of those who cut deals with them. Ask HP. I personally worked at EMC’s largest reseller where I found that getting them to return a phone call was a minor victory. And all the honeyed words about cooperation and partnership from corporate at contract signing time were only dimly heard in the local sales offices, and then thoroughly ignored.
Congratulations on the EMC investment, YY. And good luck on making the relationship work for you as well as it works for EMC.