NetApp announces agreement to acquire cost optimization firm Spot
Category: #technology |   By Saipriya Iyer |   Date: 2020-06-05

NetApp announces agreement to acquire cost optimization firm Spot
  • The two companies have joined forces so as to develop an Application Drive Infrastructure and work on cost optimization and workload distribution for public clouds.
     
  • The deal is expected to close by the end of the first half of NetApp’s fiscal year. The transaction details of the proposed acquisition are yet to be revealed.

Hybrid Cloud data services company, NetApp has recently announced that they have reached a definitive agreement to acquire Spot, a leader in cost optimization and compute management on public clouds. NetApp has taken this decision so as to establish leadership in Infrastructures driven by application.

NetApp has released a press statement saying that the business priorities of the company lie with digital transformation initiatives because of the flexibility offered by the public clouds as companies find newer ways to pursue business and interact with others. The company also mentioned the importance of an infrastructure that is driven by application to optimize clouds and speed up business transformation. Customers will be able to save up to 90 percent on cloud expenses through this infrastructure.

Anthony Lye, General Manager and Senior Vice President, Public Cloud Services at NetApp called speed as a new scale for public clouds in today’s age and said that waste due to idle resources in public clouds is a growing problem for customers and a determining factor in cloud adoption. He said that the combining forces with Spot will help deliver an effective solution for cost optimization and workload distribution to its customers.

Also Read: SAS and Red Hat to deliver advanced hybrid cloud analytics solutions

The Spot platform is known to optimize workloads through a combination of tools and visibility while maintaining Service level objective (SLO) and Service Level Agreement (SLA) which alleviates the burden of FinOps, CloudOps and DevOps from managing, tuning, scaling and optimizing resources so as to focus on business innovation.

Amiram Shachar, CEO and Founder of Spot stated that the mission of Spot was to revolutionize cloud services of companies through Automation and Analytics and build an infrastructure that is cost efficient. He also said that the company is looking forward to joining forces with the NetApp to build the Infrastructure to improve workload deployment for public clouds.

The transaction is expected to be concluded by first half of the fiscal year for NetApp. The details of the acquisition have not yet been revealed. However, the deal is still subject to certain regulatory approvals and other closing conditions.

Source Credits: https://www.netapp.com/us/company/news/press-releases/news-rel-20200603-954373.aspx

  • shareShare
  • Twitter
  • Facebook
  • LinkedIn


About Author

Saipriya Iyer     Twitter

Saipriya Iyer

A content developer by choice, Saipriya Iyer holds a rich experience portfolio of more than five years in the content creation domain. Equipped with substantial expertise across the business, technology, and finance domains, Saipriya currently pens down insightful art Read more...

More News By Saipriya Iyer

Infosys to open office in Calgary, aims to hire 1000 people by 2024

Infosys to open office in Calgary, aims to hire 1000 people by 2024

By Saipriya Iyer

Tech giant Infosys, which has operations in 50 countries, will set up its digital center in Gulf Canada Square. Over the next two years, Infosys aims to create 1,000 new jobs in Calgary by 2024, according to reliable reports. This was almost doubl...

Government-led initiatives can address Africa's food insecurity, claims report

Government-led initiatives can address Africa's food insecurity, claims report

By Saipriya Iyer

A new report released recently in the Rwandan capital of Kigali has urged African governments to take the lead and coordinate internal and external initiatives to address the continent’s food insecurity swiftly and comprehensively. The Allia...

Iron Pillar seeking USD 400 million to empower tech startups in India

Iron Pillar seeking USD 400 million to empower tech startups in India

By Saipriya Iyer

An investment company that is known to back tech startups, Iron Pillar, is reportedly looking to raise around USD 400 million to help boost the startup ecosystem in India. The venture capital firm is already in advanced deliberations with limited par...