IBM and Pure Storage announced Thursday in a release that the private flash-memory enterprise storage company has acquired more than 100 storage and related technology patents from IBM.
The companies have also signed a patent cross-license agreement, the release said, but financial terms were not disclosed.
Read MorePredicting what's in store: A flash flood of data
Pure Storage is a five-year-old maker of enterprise data-storage equipment that uses flash technology rather than traditional hard drives that companies use to store data and business records.
—By CNBC.com