NetApp buys Israeli startup Spot for $450M
US cloud data services and data management company NetApp has completed the acquisition of cloud optimization startup Spot. As stated in the deal, NetApp paid $450 million for Spot that will continue to operate as an independent department within the American corporation, writes CTech.
Spot was founded in 2015 by CEO Amiram Shachar and Chief Architect Liran Polak. According to the Crunchbase, it has raised a total of $52.6 million in funding over 4 rounds, the latest was in 2018. Investors include Highland Capital, Intel Capital, Vertex, Leaders Fund, Pico Venture Partners.
Spot by NetApp delivers application-driven infrastructures (ADIs) that help companies to optimize and automate the use of cloud infrastructure and allow them to save up to 90% of their compute and storage infrastructure expenses. Intel, IBM, Sony, Samsung, N26, Moovit, Wix are among the clients of Spot.
“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 optimization of cost for all workloads, both cloud native and legacy,” NetApp Senior Vice President and General manager Public Cloud Services Anthony Lye said.