Finance

HP Enterprise buys SimpliVity for US$650m

HP Enterprise buys SimpliVity for US$650m April 10, 2018Leave a comment
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SAN FRANCISCO (US): Hp Enterprise on Tuesday announced a package to purchase business data management firm SimpliVity for US$650 million in cash.

Founded in \’09, the Massachusetts-based SimpliVity sells “hyperconverged” systems that combine computing, storage as well as networking. HPE said the market for such systems was estimated at US$2.4 billion last year and was likely to grow to almost US$6 billion via the year 2020.

“This transaction expands HPE\’s software-defined capability and fits squarely in your tactic to make Hybrid IT simple for customers,\” HPE leader Meg Whitman said in the statement.

HPE, in Palo Alto, California, emereged as the result of your November 2015 breakup of computing giant Hewlett-Packard.

The group was split between its enterprise unit, HPE, and also the laptop or computer and printer business HP Inc. that had been a household name but faced increasingly fierce competition.

Whitman has dismantled many of the company as being the world increasingly turns to cellular devices and cloud-based computing.

Nearly a couple of years ago SimpliVity announced it had raised US$175 million at the valuation of over a billion dollars, placing it among highly-valued tech startups labelled as unicorns.

The price paid by HPE would indicate that this company had left the unicorn herd.

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