RBC Capital Downgrades NetApp (NTAP) to Sector Perform; SolidFire Acquisition Makes Takeout Unlikely
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NetApp to Acquire SolidFire
December 21, 2015 4:01 PM ESTSUNNYVALE, CA -- (Marketwired) -- 12/21/15 -- NetApp, Inc. (NASDAQ: NTAP) today announced it has entered into a definitive agreement to acquire SolidFire for $870 million in cash. Founded in 2010, SolidFire is a market leader in all-flash storage systems built for the next-generation data center where simple scaling, set-and-forget management, assured performance and multi-tenancy, and cloud economic models are driving new market growth.
"This acquisition will benefit current and future customers looking to gain the benefits of webscale cloud providers for their own data centers," said George Kurian, chief executive officer of NetApp. "SolidFire combines... More
