6 Possible Suitors In The Storage Wars: Behind The Scenes Of HPE’s $1B Plan To Acquire Nimble Storage
What you may not know about #HewlettPackardEnterprise’ s bid to buy #Nimble Storage for $1 billion in cash is that #HPE was pitted against six other firms by the upstart developer of all-flash and hybrid flash storage systems and related technologies. Nimble, for a brief moment, was worth $2.2 billion, but that value would erode as its sales projections changed and it kicked off a search for a buyer in 2016. Nimble, confident it could fetch something close to its post-IPO value, would cast a wide net to see what it could catch. HPE, meanwhile, needed Nimble’s technology to give it a full range of flash storage systems for SMB to large enterprise clients and help it better compete in the fast-growing all-flash storage market. Details of how the wheeling and dealing started, and how the final agreement was nailed down, are included in one of Nimble Storage’s last SEC filings as an independent company. But instead of reading through all that legalese, CRN presents the highlights in a special timeline that takes you through the art of this deal.