NetApp Inc. has agreed to buy data-storage startup SolidFire Inc. for $870 million, adding a participant in a sector that has gained prominence as many businesses turn to flash storage rather than hard drives.

Well-funded storage startups have been a threat to technology giants such as NetApp, International Business Machines Corp. and Hewlett-Packard Co.

"With SolidFire, NetApp will now have all-flash offerings that address each of the three largest All-Flash Array market segments," NetApp said Monday.

The deal is expected to close during NetApp's fiscal fourth quarter.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 21, 2015 17:25 ET (22:25 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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