Print Edition - 2017-01-20 | Money Digest
HP Enterprise buys startup
-, SAN FRANCISCO
Jan 20, 2017-
Hewlett Packard Enterprise on Tuesday announced a deal to buy business data management firm SimpliVity for $650 million in cash. Founded in 2009, the Massachusetts-based Simplivity sells “hyperconverged” systems that combine computing, storage and networking. HPE said the market for such systems was estimated at $2.4 billion last year and was expected to grow to nearly $6 billion by the year 2020. “This transaction expands HPE’s software-defined capability and fits squarely within our strategy to make Hybrid IT simple for customers,” HPE chief executive Meg Whitman said in a statement. HPE, based in Palo Alto, California, was the result of the November 2015 breakup of computing giant Hewlett-Packard. The group was split between its enterprise unit, HPE, and the personal computer and printer business HP Inc. that became a household name but faced increasingly fierce competition.
Published: 20-01-2017 09:44