US-based flash storage memory maker SolidFire has been acquired by storage hardware company NetApp for $870m, providing an exit to consumer electronics company Samsung’s investment unit Samsung Ventures, according to Venturebeat.
Founded in 2009, SolidFire produces all-flash storage products for use in data centres.
The company raised a total of $150m in funding.
Most recently, Samsung Ventures contributed to an $82m series D round in October 2014. The series D was co-led by Greenspring Associates with an unnamed sovereign wealth fund, with New Enterprise Associates (NEA), Novak Biddle Venture Partners and Valhalla Partners also supporting the round.
Samsung led a $31m series C round in 2013, alongside NEA, Valhalla and Novak Biddle.
Dave Wright, chief executive of SolidFire, will join NetApp to lead future development of the product.