Our Latest Online Backup Reviews:Vembu SyncBlaze
Industry LinksTools and Graphs
18 Apr 2017
PALO ALTO, Calif., April 17, 2017 — /BackupReview.info/ — Hewlett Packard Enterprise (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:
“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 – https://goo.gl/uK6asb
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.
This morning, HPE consummated the merger of its wholly owned subsidiary with and into Nimble, with Nimble continuing as the surviving corporation, pursuant to the terms of the merger agreement and in accordance with Section 251(h) of the General Corporation Law of the State of Delaware. In the merger, each Nimble share outstanding immediately prior to the effective time of the merger (other than shares held (i) by Nimble as treasury stock or by HPE or its subsidiary that merged with Nimble, which shares were canceled and have ceased to exist, (ii) by any wholly owned subsidiary of Nimble or any other wholly owned subsidiary of HPE, which shares were converted into such number of shares of common stock of the surviving corporation so as to maintain relative ownership percentages or (iii) by any Nimble stockholders who validly exercise appraisal rights under Delaware law with respect to such shares) was automatically canceled and converted into the right to receive $12.50 per share, without interest and less any applicable withholding taxes.
Upon completion of the merger, Nimble became a wholly owned subsidiary of HPE. As a result of the merger, all Nimble shares will be delisted from the New York Stock Exchange. Nimble shares are expected to be delisted prior to the open of trading today.
About Hewlett Packard Enterprise
 — Source: IDC Disk Forecast, December 2016
General Tags: SaaS, online backup companies, online backup providers directory, top rated online backups, backing up online, online backup reviews, cloud computing, online file storage, online backup, software as a service, online data backup, CEO interviews, data security, online file backup, compare online backups, online backup news, data storage, online backup services
Like us on Facebook
Sponsored Links:Data Deposit Box Asigra