Tech giant Microsoft confirmed the takeover of the cloud startup company Cloudyn. Cloudyn is an Israeli company which helps the customers in managing their cloud billing across multiple clouds. Previously, Microsoft had taken acquisition of other Israeli companies like Aorato, Adallom, Secure Islands and Hexadite which were all enterprise security firms.
Speculations about Microsoft acquiring Cloudyn had begun earlier this year in the month of April. Although the exact terms of the deal haven’t been disclosed yet, the acquisition was announced on Microsoft’s blog post.
“I am pleased to announce that Microsoft has signed a definitive agreement to acquire Cloudyn, an innovative company, that helps enterprises and manage service providers optimize their investments in cloud services,”said Microsoft’s director of program management Jeremy Winter.
With this acquisition, Microsoft had added another company to its Azure team. Since Cloudyn’s products are designed specifically to work across multiple cloud environments, Azure will now have a tool that will help its customers use AWS more effectively. “This acquisition fits squarely into our commitment to empower customers with the tools they need to govern their cloud adoption and realize the strategic benefits of a global, trusted, intelligent cloud” added Winter. Many have argued that all of a company’s workloads are better off in a single public cloud. The acquisition marks a new reality with the functioning of multicloud and hybrid cloud deployments.
When the Cloudyn was found, it had managed to rise over $20 million from its investors, including from firms like Caramel Ventures, Titanium Investments and RDSeed. The company was six years old and offers software for cloud computing from Amazon Web Services. A reliable source reveals that Cloudyn was acquired for over $50 million.