January 17, 2017 / 9:45 PM / a year ago

HP Enterprise to buy cloud software company SimpliVity

(Reuters) - Hewlett Packard Enterprise Co HPE.N said on Tuesday it would buy privately held cloud software company SimpliVity for $650 million in cash, as it looks to expand in the fast-growing market for hybrid cloud platforms.

Signs for Hewlett Packard Enterprise Co. cover the facade of the New York Stock Exchange November 2, 2015. REUTERS/Brendan McDermid/File Photo

The deal is expected to add to Hewlett Packard Enterprise’s earnings in the first fiscal year after it is completed, the company said.

Hybrid cloud platforms run applications that are based partly on the client’s private servers and partly on public cloud data centers.

Westborough, Massachusetts-based SimpliVity was founded in 2009 and had raised $276 million in four funding rounds, according to Crunchbase Inc.

Reporting by Narottam Medhora in Bengaluru; Editing by Maju Samuel

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