Tech giant Microsoft has signed a definitive agreement to acquire Cloudyn, an Israeli startup that helps enterprises and managed service providers optimise their investments in cloud services.
According to the media reports, the acquisition was between $50 million and $70 million.
As cloud adoption continues to increase, CIOs and business leaders are seeking solutions to manage and optimise their cloud investments. Cloudyn helps them achieve this by providing the tools necessary to continuously monitor, measure and analyse consumption, enable accountability, and forecast future cloud spending.
As companies continue embrace a multi-cloud strategy, Microsoft’s acquisition of Cloudyn will give the company cloud billing and management solution which will provides it with an edge over competitors, especially Amzaon Web Services (AWS) and Google Cloud Platform.
As a Microsoft partner, Cloudyn has supported cost management for Microsoft Azure and other public clouds, helping customers continuously improve their cloud efficiency.
“Cloudyn capabilities will be incorporated into our product portfolio that offers customers the industry’s broadest set of cloud management, security and governance solutions,” said Jeremy Winter, Director of Programme Management, Azure Security and Operations Management, Microsoft, in a blog post.
“I look forward to seeing the impact their contributions will have on continuing to help our customers and partners accelerate their digital transformation with Azure,” added Winter.
According to sources, Microsoft has earlier acquired several other Israeli enterprise security firms, including Aorato, Adallom and Secure Islands.
Earlier this month it bought Hexadite, another security firm, for $100 million.
“I are thrilled to announce that Cloudyn will be joining Microsoft to continue our mission of optimising cloud efficiencies and investments,” added Sharon Wagner, CEO, Cloudyn.