NetApp Inc. has agreed to buy flash-storage company SolidFire for $870 million in cash, the company announced Monday. The purchase aims to give the storage company better options for data centers focused on the cloud. "This acquisition will benefit current and future customers looking to gain the benefits of webscale cloud providers for their own data centers," NetApp Chief Executive George Kurian said in Monday's announcement. NetApp expects the acquisition to close by the end of its fiscal year, which runs through April. NetApp shares gained 1.1% in late trading after the announcement was made.
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