Triggered by the big rise in remote working caused by the Covid-19 pandemic, HPE has announced that it is buying networking company Silver Peak for $925 million.
Silver Peak’s SD-WAN (Software-Defined Wide Area Network) technology, complements HPE’s own Aruba products, and will be incorporated into that business unit.
“The need for edge-to-cloud architectures has never been more relevant as enterprises look to extend connectivity to branch locations and enable secure work-from-home experiences,”Keerti Melkote, President of Intelligent Edge, HPE
Silver Peak has revenues of $100 million and has so far raised $210 million in funding. The company was valued at $465 million in June 2018 (data from Pitchbook, via Reuters).
HPE expects the SD-WAN market to grow to $5 billion from the current $2 billion in the coming years. On Monday, HPE shares rose 0.7% on news of the proposed acquisition