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Hewlett Packard Enterprise (HPE) has acquired Zerto in a $374 million all-cash deal, expected to close by the end of HPE’s fourth quarter. The move is aimed at expanding HPE GreenLake cloud services.
Houston-based Hewlett Packard Enterprise (HPE) has entered into a definitive agreement to acquire cloud-data management and protection provider Zerto in a $374 million deal. The move aims to expand HPE GreenLake and deliver on HPE’s Storage transition to a cloud-native and software-defined data services.
As per the transaction details disclosed by HPE, the acquisition would be an all-cash deal, expected to contribute over $130 million in run-rate revenue at software gross margins.
Zerto, founded in 2009, helps customers recover from cyberthreats such as ransomware and other unprecedented downtimes and establishes the status quo before the attack or disruption. Its continuous data protection (CDP) technology comes with disaster recovery, backup, and data mobility in a single cloud data management and protection software solution that can be run on-premise, hybrid, and multi-cloud environments.
HPE said that Zerto would add additional technology and talent to HPE’s cloud data services. Antonio Neri, president and CEO of HPE, opined that data is the most crucial asset today, and with its explosive growth, organizations face complexities in managing and protecting their data.
“Zerto’s market-leading cloud data management and protection software expand HPE GreenLake cloud data services, allowing customers to protect their data and rapidly act on insights, from edge to cloud,”Mr. Neri said
The transaction is expected to close in the fourth quarter of HPE’s fiscal year 2021, after which Zerto’s management team would join the HPE family. Ziv Kedem, CEO of Zerto, stated that the HPE Greenlake edge-to-cloud strategy and strong leadership is a perfect fit for Zerto and added.
“Coupling Zerto’s industry-leading cloud data management and protection software platform with HPE’s cloud data services and go-to-market reach will offer an unparalleled experience for our collective customers and partners.”Ziv Kedem, CEO of Zerto