Tokyo Electron Device Buys Stake in Basho for Cloud ServiceNaoko Fujimura
Tokyo Electron Device Ltd., a unit of Japan’s biggest chip-making equipment maker, formed a partnership with Basho Technologies Inc. to expand its cloud service in the country.
Tokyo Electron Device, 55 percent owned by Tokyo Electron Ltd., took a stake in Cambridge, Massachusetts-based Basho, the companies said in a statement today. They didn’t say how much money the Yokohama, Japan-based distributer of network equipment and semiconductors invested.
Basho, set up by a group of engineers and executives from Akamai Technologies Inc. in 2008, is expanding in Japan with its Riak open-source distributed database for cloud computing. The company set up an office in Tokyo and received $6.1 million in investment from a unit of Yahoo Japan Corp. last year.