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NetApp (NTAP) to Buy SolidFire for $870 Million

NetApp (NTAP) has announced that it will buy SolidFire for $870 million.

netapp-solidfire-ntapThe acquisition of SolidFire by NetApp will be completed with cash. NTAP said that the addition of SolidFire will benefit its customers with its all-flash storage systems. It said it will merge the company’s products with its data fabric strategy.

NetApp plans to make offers with SolidFire for the three largest All-Flash Array market segments. This includes one for traditional enterprise infrastructure buyers, next-generation infrastructure buyers and application owners.

NetApp is expecting the acquisition of SolidFire to be completed during its fourth quarter for fiscal 2016. This will result in SolidFire CEO Dave Wright leading the company’s SolidFire product line.

NTAP shares were down 4% as of Tuesday morning.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/12/netapp-solidfire-ntap/.

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