HP Enterprise to Acquire Nimble Storage; Shares Fairly Valued
Hewlett Packard Enterprise announced March 7 that it has entered into an agreement to acquire Nimble Storage, a provider of all-flash and hybrid-flash storage products. HP Enterprise will pay $12.50 per share in cash, which represents a purchase price of around $1 billion and implies fiscal 2016 price/sales of 2.5. We think this acquisition aligns well with HP Enterprise’s capital-allocation framework and strategy of focusing on high-growth segments of the market. Nimble Storage’s flash offering...Hewlett Packard Enterprise is a technology company. The company's segments are: Hybrid IT, which provides a portfolio of infrastructure and solutions including servers, storage, and HPE Pointnext services; Intelligent Edge, which is comprised of cloud solutions that include wireless local area network, campus and data center switching, software-defined wide-area-networking, security, and associated services to enable secure connectivity; Financial Services, which provides investment solutions for customers that facilitate technology deployment models; and Corporate Investments, which includes Communications and Media Solutions, Hewlett Packard Labs and certain business incubation projects.
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