Microsoft Corporation (NASDAQ:MSFT) has confirmed the acquisition of Israeli-based cloud management startup Called Cloudyn.
Microsoft confirmed the Cloudyn acquisition after months of discussion about the deal. Rumors about the software and tech giant acquiring the Israeli-based firm started pouring in in April. Jeremy Winter, the program director at Microsoft Azure announced that the two firms struck an acquisition deal on Thursday. The startup assists customers in managing their cloud billing through multiple cloud services. Sources revealed that the acquisition deal was valued between $50 million and $70 million, though Microsoft is yet to reveal the actual numbers.
“I am pleased to announce that Microsoft has signed a definitive agreement to acquire Cloudyn, an innovative company that helps enterprises and managed service providers optimize their investments in cloud services,” wrote Winter in Microsoft blog post.
Microsoft is pushing its cloud strategy more aggressively
Microsoft strategically chose the Israeli firm so that it can boost its multi-platform portfolio which will in turn strengthen its cloud strategy. This will also allow the company to stay ahead of the game as competition in the cloud sector grows. The acquisition also happens to be the tech giant’s second dal that it has announced this month, highlighting the aggressive stance that it has taken towards cloud services.
Cloudyn has been running its services for six years now. The firm helps businesses to measure the performance, consumption and cost of their cloud spending using software. The startup was founded by Boris Goldberg, Vittaly Tavor and Sharon Wagner, the current CEO of the Israeli firm. It has its offices in Rosh Ha’ayin town in Israel though its headquarters are in Boston in the U.S.
Sharon announced through a blog post that all the founders were pleased about their company becoming part of Google where they will continue offering cloud efficiencies. It is currently not clear whether the startup’s technology will be incorporated into Microsoft’s lineup or whether it will still continue to support cloud services from Microsoft’s rivals. The acquisition also adds to the number of Israeli firms that the tech giant has previously acquired.
Microsoft stock closed the latest trading session on Thursday at $68.49.
