MOUNTAIN VIEW, Calif., April 2, 2019 /PRNewswire/ -- Pure Storage (NYSE: PSTG), the data solutions leader that helps innovators build a better world with data, today announced that it has entered into a definitive agreement to acquire Compuverde, a leading developer of file software solutions for enterprises and cloud providers based in Sweden.
Compuverde will expand Pure Storage's file capabilities, enabling enterprises to take advantage of advanced file offerings. The additional functionality reinforces Pure's strategy to empower customers to implement true hybrid architectures -- whether they choose to leverage data on-prem, in the cloud, or increasingly a mix of both.
Within enterprises, there is a growing demand for file-based shared storage in the public cloud. According to IDC, 79% of end users leverage file-based storage for unstructured data associated with mission-critical workloads. As more enterprise applications are deployed in a hybrid cloud architecture, file-based storage that offers the same advanced functionality as the on-prem environment can help reduce challenges to movement.1
Compuverde brings a robust ecosystem of technology partnerships and the company's highly scalable software solution is deployed across global organizations in telecom, financial services, and media industries.
"We're excited about the opportunities that the Compuverde team and technology bring to Pure's existing portfolio," said Charles Giancarlo, Chairman and CEO, Pure Storage. "As IT strategies evolve, enterprises look to leverage the innovations of the public cloud in conjunction with their on-prem solutions. Through our expanding suite of hybrid data solutions such as Cloud Data Services, we continue to help our customers make the most of their data assets."
The financial terms of the acquisition are not being disclosed. The acquisition is expected to close in April 2019.
This release contains forward-looking statements including, among other things, statements regarding the expected performance and benefits of Pure Storage's product offerings. The words "believe," "may," "will," "plan," "expect," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (SEC), including future reports that we may file with the SEC from time to time, which could cause actual results to vary from expectations. Pure Storage assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
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About Pure Storage
Pure Storage (NYSE: PSTG) helps innovators build a better world with data. Pure's data solutions enable SaaS companies, cloud service providers, and enterprise and public sector customers to deliver real-time, secure data to power their mission-critical production, DevOps, and modern analytics environments in a multi-cloud environment. One of the fastest growing enterprise IT companies in history, Pure Storage enables customers to quickly adopt next-generation technologies, including artificial intelligence and machine learning, to help maximize the value of their data for competitive advantage. And with a certified NPS customer satisfaction score in the top one percent of B2B companies, Pure's ever-expanding list of customers are among the happiest in the world.
1 Source: IDC Growth of File Storage Services in the Public Cloud, June 2018 (Doc # US44002318)
SOURCE Pure Storage