- Pure Storage Inc. expected to make a deal to buy Portworx, Inc. for about USD 400 million.
- In 2015, Pure Storage went in public for approximately USD 489 million preliminary public offerings.
- This year, share value decreased by about 11%, offering a market value of approximately USD 4.1 billion.
- Portworx offers technology for industries to manage databases.
Pure Storage Inc., known to offer cloud and data storage services, is close to making a deal to buy Portworx, Inc. for about USD 400 million. Individuals aware of the matter revealed the news. Portworx is an end-to-end data management and storage platform. With it, users can manage stateful service or database on any infrastructure using any container scheduler, including Docker Swarm, Kubernetes, and Mesosphere DC/OS.
As per the private information, Pure Storage is expected to pay about USD 350 million to USD 400 million for Portworx, a cloud storage software company.
People commented, “A final agreement hasn’t been reached, and negotiations could still be delayed or fall apart.” However, a representative of Mountain View, California-based Pure Storage, refused to comment. Thus, a representative for Portworx, based in Los Altos, California, did not instantly respond to requests for statements beyond business hours.
In 2015, Pure Storage went public for approximately USD 489 million preliminary public offerings, with so-called greenshoe shares. This year, share value decreased by about 11%, by offering a market value of about USD 4.1 billion. The firm defines itself as a storage platform for data management and end-to-end storage solution for all Kubernetes projects such as Disaster Recovery initiatives, Containers-as-a-Service (CaaS), Storage as a Service (SaaS), and Database as a Service (DBaaS). Also, Amazon Web Services (AWS) is its enhanced technology partner.
Portworx offers technology for industries to manage databases and counts Hewlett Packard Enterprise Co. and Cisco Systems Inc. among its supporters. As per the data published on its website, the company was established by individuals who started Ocarina Networks Inc., which was later acquired by Dell Technologies Inc. in 2010.