Hewlett Packard Enterprise has announced a deal to acquire flash storage firm Nimble Storage, once viewed as a darling of Wall Street, for $12.50 a share in cash, or $1 billion. HPE also agreed to assume or pay out Nimble Storage’s unvested equity awards, which are valued at $200 million. Upon completion of the deal, Nimble Storage will merge with a unit of HPE and become a subsidiary of the company. The Nimble Storage acquisition is meant to strengthen the breadth of HPE’s offerings as it competes in the mid-to-high end flash storage market.
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