This acquisition is intended to expand HPE GreenLake Edge-to-Cloud Platform as well as HPE continues delivery on its Storage’s shift to a cloud-native, software-defined data services business. In addition, Zerto is expected to contribute more than $130M of run-rate revenue at software gross margins with approximately one-third of revenues incremental to HPE’s as a service Annualized Revenue Run-Rate (ARR).
“Data is now the most critical asset. With the explosive growth of data at the edge and across hybrid environments, organizations today face significant complexity in managing and protecting their data. Zerto’s market-leading cloud data management and protection software expands HPE GreenLake cloud data services, allowing customers to protect their data and rapidly act on insights, from edge to cloud,” said Antonio Neri, President and CEO of HPE.
As announced, Zerto’s continuous data protection (CDP) technology with a user base of about 350 Managed Service Providers and 9,000 customers – includes disaster recovery, backup, and data mobility in a cloud data management and protection software solution that spans on-premises, hybrid, and multi-cloud environments.
“The HPE GreenLake edge-to-cloud strategy and strong leadership is a perfect match for ZertoCoupling Zerto’s industry-leading cloud data management and protection software platform with HPE’s cloud data services and go-to-market reach will offer an unparalleled experience for our collective customers and partners,” said Ziv Kedem, CEO of Zerto.
According to HPE, the transaction is expected to close in the fourth quarter of HPE’s fiscal year 2021 while subject to regulatory approvals and other customary closing conditions. In addition, Zerto’s management team will be joining the HPE family at the close of the transaction, organized under HPE Storage, lead by Tom Black, Senior Vice President and General Manager.