Hewlett Packard Enterprise has entered into a definitive agreement to acquire Nimble Storage, the San Jose, Calif.-based provider of predictive all-flash and hybrid-flash storage solutions. HPE will pay $12.50 per share in cash, representing a net cash purchase price at closing of $1 billion. The company will also assume or pay out Nimble’s unvested equity awards, with a value of approximately $200 million at closing. The deal is expected to be completed in April, subject to customary closing conditions.
“Nimble Storage’s portfolio complements and strengthens our current 3PAR products in the high-growth flash storage market,” said Meg Whitman, president and CEO, HPE. “And, this acquisition is exactly aligned with the strategy and capital allocation approach we’ve laid out. We remain focused on high-growth and higher-margin segments of the market.”
HPE plans to incorporate Nimble’s predictive analytics platform across its storage portfolio as well.
Nimble was founded in 2007 and has approximately 1,300 employees worldwide. The company delivered revenue of $402 million in its most recent fiscal year.
The overall flash market was estimated to be approximately $15 billion in 2016 and is expected to be nearly $20 billion by 2020, with the all-flash segment growing at a nearly 17 percent compound annual growth rate, according to IDC.
You can read a blog post on the acquisition by Antonio Neri, executive vice president and general manager, Enterprise Group, HPE, here.
You can read a statement by Suresh Vasudevan, CEO, Nimble Storage, here.
[Image courtesy: HPE]