Texas-based financial technology company Hewlett Packard Enterprise is planning to buy cloud-data management company Zerto.
As part of the transaction, Hewlett Packard will pay $374 million in cash to buy Zerto.
The deal, expected to be accretive to adjusted earnings starting in fiscal 2023, will add more than $130 million to the overall revenue of Hewlett Packard.
The acquisition of Zerto is expected to be completed in the fourth quarter of this fiscal year.