share_log

Dell Scoops Israel's Cloudify To Boost Cloud Offerings

Benzinga Real-time News ·  Jan 26, 2023 10:44
  • Dell Technologies Inc (NYSE:DELL) acquired Cloudify to beef up its cloud services business, specifically its offerings in DevOps.
  • The Israeli startup has built a platform for cloud orchestration and infrastructure automation, TechCrunch reports.
  • The purchase consideration ranged between $70 million - $100 million.
  • Also Read: Dell's Higher Notebook Mix, Focus On ASP, Storage Business Steadiness, Higher Contribution From Software & Services Likely To Bode Well: Analyst
  • Cloudify's tools serve cloud architects and DevOps engineers to manage containers, workloads, and more across hybrid environments.
  • Cloudify was spun out from GigaSpaces in 2017. Nati Shalom, the founder and CTO of Cloudify, was also a co-founder of GigaSpaces.
  • Since then, the startup has raised less than $8 million.
  • Dell reported third-quarter revenue of $24.7 billion, which beat average analyst estimates of $24.53 billion. The company said third-quarter revenue was down 6% year-over-year.
  • Dell reported third-quarter earnings of $2.30 per share, which beat estimates of $1.60 per share.
  • Dell held $6.5 billion in cash and equivalents as of October 28.
  • Price Action: DELL shares traded higher by 0.02% at $40.51 on the last check Thursday.
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment