DataDirect Networks (DDN) has acquired Tintri in a deal worth $60m (£47m).
The US storage vendor made moves to acquire the beleaguered Tintri earlier this summer.
DDN has now said that it was declared "auction winner" of Tintri after an "extensive bidding process".
Paul Bloch, co-founder and president of DDN, said the company had started re-hiring former Tintri staff weeks beforehand, without knowing the outcome of the auction.
"The amazingly positive validation of Tintri by its customers was unlike anything we had ever seen in more than 20 years in the storage industry," he said.
"We thought that something as great as Tintri had to be preserved for its customers no matter what.
"We were fortunate to be the winning bidder and look forward to building an incredibly successful 'Tintri by DDN' division."
Founded in 2008, Tintri raised over $260m in funding rounds, according to Crunchbase, with reports claiming the firm was once valued at over $800m. The firm's market cap was $225m on its first day of trading.
When it listed on the stock exchange in June 2017, it was valued at $225m.
However, its share prices plummeted over time, until it filed for bankruptcy a year later.
Alex Bouzari, co-founder and CEO of DDN, said that the company will provide Tintri's customers with the support, products and features that they require.
"The acquisition of Tintri strengthens and expands DDN's position as a leading storage provider for on-premise and hybrid cloud environments," he stated.
"Tintri offers the best analytics with predictive, efficient and intuitive insight for virtualised environments and databases.
"Combining these capabilities with DDN's market-winning performance, efficiency and integration at scale for AI, technical computing and the enterprise is incredibly enabling for customers."
Automation firms UiPath and Automation Anywhere close out their funding rounds with $265m and $300m respectively
View photos of last night's awards ceremony in London
View photos of all the winners from the 2018 Channel Awards
After a glittering awards evening in Battersea celebrating 25 years of the Awards, we are pleased to share the list of winners and judges' commended winners