Global technology giant Microsoft has said it will acquire Israel-based cloud management company Cloudyn in a transaction that also provides an exit to Indian software major Infosys on its year-old investment.
“Microsoft has signed a definitive agreement to acquire Cloudyn, an innovative company that helps enterprises and managed service providers optimize their investments in cloud services,” the software giant announced.
“This acquisition fits squarely into our commitment to empower customers with the tools they need to govern their cloud adoption and realise the strategic benefits of a global, trusted, intelligent cloud,” said Jeremy Winter, Director of Programme Management, Microsoft Azure Security and Operations Management.
While the financial details of the deal were not disclosed, it is reported to be around $50 million-$70 million.
According to a company statement, Infosys has agreed for divestment of its entire investment in Cloudyn for a total consideration of approximately $4.4 million.
In August last year, Infosys has invested $4 million to pick up a minority stake in Cloudyn marking the Bengaluru-headquartered firm’s second investment in an Israel-based cloud-computing start-up from the company’s $500 million innovation fund.
In 2015, Infosys had paid $4 million to pick a minority stake in Cloud Endure Ltd, an Israeli-based start up which offers solutions to help large companies move applications to cloud and cloud-based Disaster Recovery software.
Privately-held Cloudyn, which was founded in 2011, provides enterprise customers tools to identify, measure and analyse consumption, enable accountability and forecast future cloud spending.
Cloudyn has raised $20.5 million in four rounds from its investors, startup data site Crunchbase said. Cloudyn’s other investors include Carmel Ventures, RDSeed and Titanium Investments, according to Crunchbase.
“Cloudyn capabilities will be incorporated into our product portfolio that offers customers the industry’s broadest set of cloud management, security and governance solutions,” added Winter.