Pure Storage Is Said to Near Deal to Acquire Portworx

Pure Storage Inc., which provides data storage and cloud services, is nearing a deal to buy Portworx Inc. for as much as $400 million, according to people familiar with the matter.

Pure Storage is set to pay $350 million to $400 million for Portworx, a cloud storage software company, the people said. An announcement could come as soon as Wednesday, said the people, who asked not to be identified as the information is private.

A final agreement hasn’t been reached and negotiations could still be delayed or fall apart, the people said. A representative for Mountain View, California-based Pure ...