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NetApp to acquire Spot
Posted on Friday, 05 June 2020 06:18
NetApp has agreed to pick up Spot, a compute management and cost optimisation provider on the public clouds, to establish leadership in application driven infrastructure.
Financial terms of the deal were not disclosed; however, Israeli publication CTECH said the transaction would be worth USD 450.00 million.
NetApp is billed as a leader in cloud data services and is hoping that together with Spot the groups will be able to help customers save up to 90.0 per cent of their compute and storage cloud expenses, which typically make up 70.0 per cent of total cloud spending and accelerate public cloud adoption.
Digital transformation initiatives have become increasingly popular and remain a top business priority with public clouds offering speed and flexibility to navigate the new normal as companies find new ways to work, interact and operate.
Unoptimised clouds can be costly and slow down the business transformation. To address this challenge an application driven infrastructure translates the workload patterns and drives best level of performance, while maintaining contracted service-level agreement.
Completion of the deal is subject to regulatory approvals, among other conditions, and is expected to occur in six months ended November 2020, the first half of NetApp’s fiscal year 2021.
Spot, formerly known as Spotinst, provides a combination of tools for visibility and automation that drive continuous optimisation of workloads in a single platform.
Anthony Lye, senior vice president of NetApp, said: “The combination of NetApp’s leading shared storage platform for block, file and object and Spot’s compute platform will deliver a leading solution for the continuous optimisation of cost for all workloads, both cloud native and legacy.
“Optimised customers are happy customers and happy customers deploy more to the public clouds.”
Together, the companies will enable customers to deploy more applications to public clouds faster with Spot’s as-a-service platform for the continuous optimisation of both compute and storage for both traditional information technology buyers and enterprise applications, cloud-native workloads and data lakes.
Founded in 2015, Spot has over 180 staff across offices in San Francisco, New York, Washington and London.
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