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HPE is buying Israeli cloud data co Zerto for $ 374 million – Current Globe News

HPE is buying Israeli cloud data co Zerto for $ 374 million


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Hewlett Packard Enterprise (NYSE: HPE) announced today that it has signed a final deal to take over an Israeli cloud data management and protection company Of course for $ 374 million in cash.

Thanks to offices in Herzliya and Boston, Zert’s continuous data protection technology includes disaster recovery, backup and data mobility in a unique, simple cloud data management and protection software solution that extends to local, hybrid and multi-cloud environments.

Zerto helps customers recover quickly from ransomware, cyber-attacks and other unplanned downtime, restoring data to its original state just seconds before an attack or interruption. Zerto also easily replicates and migrates data between VMware vSphere and the Microsoft Hyper-V environment, and originally to Amazon Web Services and Microsoft Azure.

Zerto has 500 employees serving more than 9,000 customers, including businesses and 350 service providers it manages. According to LinkedIn, the company had 800 employees in 2019, but there have been major layoffs in recent years and operations have closed in the Asia-Pacific region.

The company, founded in 2009 by CEO Ziv Kedem and his CTO brother Oded Kedem, raised $ 33 million from Access Industries through Claltech, 83North, Battery Ventures, Harmony Partners, IVP, RTP Ventures, U.S. Venture Partners and Poalim Capital Markets. According to PitchBook, Zerto has raised $ 228 million since its inception, and an estimate in the last June round of financing was $ 410 million, so investors who entered that round lost money.

In the past, Zert was talked about as a company that started an IPO worth 600-700 million dollars and as one of the largest and fastest growing technology companies in Israel. Zerto explained the decrease in the number of people as a result of the desire for the company to survive over time.

Kedem said, “HPE GreenLake’s edge-to-cloud strategy and strong leadership match Zerto perfectly. Merging Zerto’s leading cloud data management and data protection software platform with HPE’s cloud data and range services will offer the market. an unparalleled experience for our collective customers and partners. “

HPE President and CEO Antonio Neri said: “Data is now the most important asset. With the explosive growth of edge data and in hybrid environments, organizations today face significant complexity in managing and protecting their data. Zert’s cloud data management, leading in the marketplace and security software expands HPE GreenLake cloud data services, enabling customers to protect their data and respond quickly to insights, from the edge to the cloud. “

The transaction is expected to bring HPE more than $ 130 million in revenue at gross software margin rates.

Zert’s management team will join HPE after the transaction is completed, which is expected in the fourth quarter of HPE’s fiscal 2021.

HPE is separate from HP 2015. It provides data centers products and services for the enterprise market. It is traded on the New York Stock Exchange with a market capitalization of about $ 19 billion.

Posted by Globes, business news in Israel – en.globes.co.il – July 1, 2021

© Copyright Globes Itonut (1983) Ltd. 2021


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