NetApp has agreed to pay a reported $450m to buy the cloud workload management platform, which had raised $52m in funding from investors including Intel Capital.
Semiconductor producer Intel is set to exit Spot, an Israel-based workload software provider that agreed yesterday to an acquisition by cloud data services provider NetApp sized at $450m, according to Calcalist.
Founded in 2015 as Spotinst, Spot has built an infrastructure-as-a-service software platform that enables clients to continuously and automatically optimise cloud computing resources.
NetApp expects the acquisition to drive cost savings of up to 90% on its clients’ cloud computing and storage expenses, by reducing the amount of idle…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
