NetApp buys Israeli cloud optimization co Spot for $450m

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Jun 04, 2020 | News | Jerusalem & Area
NetApp buys Israeli cloud optimization co Spot for $450m

The company has built a system that allows customers to save an average of 80% on their cloud computing costs.

US hybrid cloud data services company NetApp (Nasdaq: NTAP) has announced that it is acquiring Israeli cloud infrastructure management and cost optimization company Spot. No financial details were provided but NetApp will reportedly pay $450 million for Spot.

The company, which was founded in 2015 in Tel Aviv as Spotinst by CEO Amiram Shachar, Chief Architect Lira Polak and Aharon Twizer, has raised $53 million. Investors include Highland Capital, Intel Capital, Vertex, Leaders Fund and others.

Full Story (Globes) 


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