News: The deal is anticipated to close during NetApp’s fiscal fourth quarter, ending in April.
NetApp has agreed to acquire flash storage and software development firm SolidFire for $870m.
Founded in 2010, Solidfire has to date raised $150m in funding from investors like Samsung Ventures, Valhalla Partners, and New Enterprise Associates.
Based in Boulder, Colorado, Solidfire employs more than 400 people globally. The company also has offices in Australia, England, Japan, South Korea and Singapore.
NetApp will incorporate SolidFire products into its data fabric strategy to provide data management across flash, disk and cloud resources.
Upon completion of the acquisition, NetApp will have offerings that address three of the largest all-flash array market segments including traditional enterprise infrastructure buyer; application owner; and the next-generation infrastructure buyer.
SolidFire CEO Dave Wright will lead the company’s product line within NetApp’s product operations.
The transaction is anticipated to close during NetApp’s fiscal fourth quarter, ending in April.
NetApp CEO George Kurian said: "This acquisition will benefit current and future customers looking to gain the benefits of webscale cloud providers for their own data centres.
"SolidFire combines the performance and economics of all-flash storage with a webscale architecture that radically simplifies data centre operations and enables rapid deployments of new applications."