International Business Machines Corp (IBM) is in advanced talks to buy Israeli start-up XIV Information Systems for $300 million to $350 million, financial daily Globes reported on Monday. XIV officials declined to comment.

According to Globes, XIV has developed a system that replaces conventional storage technologies through the use of grid technology and less expensive hardware.

XIV Information Systems provides Enterprise Class Data Storage solutions.

XIV’s NEXTRATM Grid Storage Product is a fully scalable, high-performance, distributed Data Storage System.