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Teradata Corp agreed to buy privately held analytics company Aster Data for $263 million and this is Teradata’s second buy in two months

* Teradata says deal will not add to rev in 2011

* Says deal to be dilutive to 2011 EPS

* Says to get $21 mln in cash from Aster balance sheet (Adds conference call details, industry context, share)

March 3 (Reuters) - Teradata Corp agreed to buy privately held analytics company Aster Data for $263 million as the enterprise data warehousing company looks to build scale to take advantage of the booming demand for data storage.

This would be the second private data analytics company Teradata bought in a little over 2 months -- it agreed to buy Aprimo for $525 million in cash in December. .

Teradata, which has a market value of $8 billion, had acquired an 11 percent stake in San Carlos, California-based Aster Data Systems in September 2010.

The company will get $21 million in cash from Aster Data's balance sheet, as part of the deal.

The deal will not add to Teradata's revenue in 2011 and would shave 3 cents a share off its 2011 earnings, Teradata said in a conference call with analysts.

Aster Data develops software for analysis of large sets of data and counts MySpace, Comscore Inc and Akamai Technologies Inc among its customers.

Teradata has been expanding into cloud software services as it gears up to meet challenges from larger rivals IBM and Oracle .

There had been a slew of deals in the data storage industry following the bidding war between Hewlett-Packard Co and Dell Inc over data storage company 3PAR Inc .

Later, IBM joined the deal-making frenzy by buying data analytics company Netezza Corp for $1.7 billion in September.

Following the acquisition of Teradata's rivals, there had been speculation that the company could the be next target.

San Diego, California-based Teradata's stock, which has gained more than a third of its market value in the last six months, had closed at $45.57 on Wednesday on Nasdaq. (Reporting by Himank Sharma and Supantha Mukherjee in Bangalore; Editing by Don Sebastian and Joyjeet Das)

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