Published on 4 Apr 2024 on Zacks via Yahoo Finance
Pure Storage (PSTG) Data Storage Platform Used by Bloomington
Pure Storage PSTG recently announced that the city of Bloomington is deploying its data storage solutions to provide modernized digital services to the citizens.Bloomington, located in Central Illinois, has a population of 80000 residents. Apart from being a productive agricultural region, its economy is powered by a range of other sectors, including manufacturing, medicine, education and entertainment.The city has made significant efforts to upgrade its IT infrastructure by embracing PSTG’s data storage platform through the latter’s Evergreen//Flex subscription. The strategic move resulted in a drastic reduction of its data center footprint by 85% (as storage in the data center has gone down to 7U from 48U earlier), enabling financial flexibility and improving overall IT performance.This will aid the city's IT team to direct its attention to other critical city operations, such as data retention policies contributing to regional efforts to boost the local economy.By utilizing Pure Storage FlashArray via an Evergreen//Flex subscription, Bloomington is required to pay solely for the storage used while simultaneously gaining ownership of on-premises storage. Also, the Pure1 AIOps management console facilitates visibility into the storage environment.Further, PSTG highlighted that the increasing usage of police body cameras was contributing to data growth for the city.With the deployment of highly optimized Pure Storage FlashArray, public safety videos are now stored on this platform and can be quicky made available to the city for deriving vital public safety information.Headquartered in Mountain View, CA, PSTG provides software-defined all-flash solutions that are uniquely fast and cloud-capable for customers. The company offers its products and services on a subscription basis through Evergreen//One and Cloud Data Services.For fiscal 2024, the company generated revenues of $2.8 billion, up 3% year over year. Management noted that TCV sales for Evergreen//One and Evergreen//Flex exceeded $400 million in fiscal 2024.At present, Pure Storage carries a Zacks Rank #3 (Hold). Shares of the company have gained 111.4% compared with the sub-industry’s growth of 184.2%.
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