July 13, 2020 / 12:22 PM / 25 days ago

HP Enterprise to buy Silver Peak for about $925 million

FILE PHOTO: A trader passes by the post where Hewlett Packard Enterprise Co., is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 25, 2016. REUTERS/Brendan McDermid/File Photo

(Reuters) - Hewlett Packard Enterprise Co said on Monday it would buy Silver Peak, a California-based developer of tools to enhance the performance of wide area networks, for about $925 million (734.3 million pounds) in cash.

Silver Peak will be combined with HPE’s Aruba business unit, which makes Wi-Fi network gear, the company said.

Reporting by Ayanti Bera in Bengaluru; Editing by Sriraj Kalluvila

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