- 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.
