NetApp agreed to acquire Spot, Cloud Compute and Cost Optimization startup

NetApp announced that it has agreed to acquire a cloud computing startup Spot. The financial terms of the transaction were not disclosed.  

Founded in 2015, Spot offers cost optimization tools to optimize AWS, Azure, and Google Cloud deployments with SLA-backed availability. To date, the company has secured a total of $52.6M in four funding rounds, according to CrunchBase.

We’re excited to announce NetApp has signed an agreement to acquire @spot_hq, a leader in compute management and cost optimization on the public clouds, establishing leadership in Application Driven Infrastructure. Learn more: https://t.co/6axA12WKmX pic.twitter.com/dYyQ590qMR

— NetApp (@NetApp) June 3, 2020

Senior Vice President and General Manager, Public Cloud Services, NetApp, Anthony Lye, "In today’s public clouds, speed is the new scale. However, waste in the public clouds driven by idle resources and overprovisioned resources is a significant and a growing customer problem slowing down more public cloud adoption. The combination of NetApp’s leading shared storage platform for block, file and object and Spot’s compute platform will deliver a leading solution for the continuous optimization of cost for all workloads, both cloud native and legacy. Optimized customers are happy customers and happy customers deploy more to the public clouds."

Founder and CEO, Spot, Amiram Shachar, said, "Spot was founded with a vision to revolutionize the way companies consume cloud infrastructure services, using analytics and automation to deliver the most reliable, best performing and most cost-efficient infrastructure for every workload on every cloud. We look forward to joining the NetApp family and building together the future of Application Driven Infrastructure and helping customers to deploy more workloads in the cloud."

NetApp and Spot’s Application Driven Infrastructure for continuous optimization can achieve up to 90 percent of compute and storage costs, notes the announcement.

Spot's software-as-a-service (SaaS) offering supports cloud services including Amazon Web Services, Microsoft's Azure, and Google Cloud. With Spot's capabilities, NetApp plans to offer Application Driven Infrastructure, optimizing both public cloud compute and storage costs with its leading platforms