Hewlett Packard Enterprise (HPE) Completes $1B Acquisition of Nimble Storage (NMBL)
#HewlettPackard#Enterprise (NYSE: #HPE ) today announced that it has completed its acquisition of #Nimble Storage, Inc., the San Jose, Calif.-based provider of predictive all-flash and hybrid-flash storage solutions. HPE paid $12.50 per share in cash representing a net cash purchase price at closing of $1.0 billion. In addition to the purchase price, HPE assumed or paid out Nimble’s unvested equity awards, with a value of approximately $200 million at closing. The acquisition of Nimble strengthens HPE’s leadership in Hybrid IT and: Expands HPE’s position in the high-growth flash storage market, which was estimated to be approximately $15 billion in 2016 and nearly $20 billion by 2020, with the all-flash segment growing at a nearly 17 percent compound annual growth rate . Creates a comprehensive, leading-edge storage portfolio by bringing together Nimble’s predictive flash offerings for the entry to midrange segments with HPE’s scalable midrange to high-end 3PAR solutions, SimpliVity solutions and affordable MSA products. Accelerates Nimble’s growth momentum by bringing together complementary product portfolios and leveraging HPE’s expansive go-to-market capability, partner ecosystem and leading server platform. “This deal, in combination with our recent acquisitions, helps deliver on our vision of making Hybrid IT simple for our customers,” said Antonio Neri, EVP and GM, Enterprise Group, HPE. “Through these strategic investments, we are continuing to strengthen and deepen our portfolio of next generation, software-defined, differentiated solutions that meet the new challenges our customers are facing.” IDC referred to the acquisition as a “home run” that “will benefit both HPE and Nimble customers alike” in one of their latest industry reports, which can be downloaded here. 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, up 25 percent year over year. The acquisition is expected to be accretive to HPE earnings in the first full fiscal year following the close.