HPE Expresses Takeover Interest In Nutanix

HPE Expresses Takeover Interest In Nutanix
  • Hewlett Packard Enterprise Co HPE has expressed takeover interest in cloud computing company Nutanix, Inc NTNX.
  • HPE has held talks with Nutanix in recent months. Bloomberg reports.
  • San Jose, California-based Nutanix sells cloud software and services to companies. 
  • On Wednesday, it reported revenue of $434 million for the first quarter of its fiscal year, topping estimates by 15%.
  • In September, Nutanix said it planned to implement a series of governance changes, including ensuring all directors stand for election each year and amending its shareholder voting rights.
  • In October, Nutanix weighed a sale after getting takeover interest.
  • Last month, activist investor Legion Partners Asset Management also encouraged the board to properly evaluate alternatives, including all potential partners, after reports of the inbound interest surfaced.
  • HPE projected revenue for the current quarter that beat analyst expectations, suggesting corporations continue upgrading their technology infrastructure in an uncertain economy
  • Price Action: NTNX shares closed higher by 4.42% at $29.51 on Wednesday.
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