Hewlett Packard acquires Nimble

San Jose based Company Nimble storage has been snapped up by Hewlett Packard Enterprise or $1.09 Billion, making it the latest acquisition of an Indian Tech company by a global giant. NASDAQ listed Nimble Storage builds flash-based storage products and competes with the likes of NetApp and EMC.

California based HPE is the world’s second largest provider of external enterprise storage, with revenue of $656.5 Billion in the fourth quarter of 2016, according to analyst firm IDC. Earlier this year, it acquired hyper converged solution provider SimpliVity, Cloud Cruiser, a consumption based infrastructure analytics and security analytics vendor Niara.

The Nimble Storage deal underlines foreign entities growing interest in technology companies set up by Indians. Over the past six months, the likes of Apple, Nutanix, Intel and Cisco have shopped around for companies with Indian Origin, especially in areas of artificial Intelligence, cloud infrastructure and automation. Cisco recently snapped by AppDynamics, which helps companies monitor application performance for $3.7 Billion.

HPE said the acquisition will give it a full range of flash storage systems for SMB to large enterprise clients and help it better compete in the fast growing all flash storage market. 

Blackstone to acquire Mphasis

Private Equity player Blackstone has entered into a definitive agreement with Hewlett Packard Enterprise to buy a majority stake in Mphasis. This deal represents the largest acquisition by Blackstone in India. Based on the open offer subscription, the purchase price consideration will vary between Rs 5466 crore and Rs 7071 crore.

HPE also signed a master services agreement with Mphasis, committing business of $990 Million over a period of five years. The Duration of MSA is five years with three automatic renewals of two years each. Also, Mphasis will be included in HPE’s Preferred Provider Program, opening up significant additional revenue opportunities. HPE currently owns 60.5% of Mphasis. Blackstone will pay a purchase price of Rs 430 per share to HPE.

Mphasis has strong domain expertise in banking, financial services, and insurance vertical. Its deep relationship with marquee global consumers has enabled it to deliver growth above the industry average in its direct international segment. The company has an experienced management team who has a clear road map for company growth. With a long term commitment of company largest customer, HPE are confident that Mphasis will scale new heights.