Microsoft has confirmed that it is buying Cloudyn, an Israeli cloud monitoring analytics start up.
Breaking into the tech scene in 2012, Cloudyn’s service assists companies by providing analytics and optimisation tools to automate and monitor costs of their cloud base.
The company has successfully raised over $20m since being founded.
Some of the services that drew Microsoft to the rapidly growing company includes systems to support cloud billing and management solutions.
The startup provides companies with access to real-time data, making it easier to make financial evaluations. In this way, the company seeks to provide efficient management of cloud databases.
Other major companies that Cloudyn is a successful vendor to include businesses such as Hewlett Packard Enterprise (HPE) and Ticketmaster.
Microsoft is planning to use Cloudyn’s multi-cloud strategies to better manage cloud operations and services. This in turn, gives leverage for Microsoft to compete against other public clouds such as Amazon’s AWS and Google’s Cloud.
Jeremy Winter, director of program management at Microsoft’s Azure Security unit wrote: “I am pleased to announce that 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.”
“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.”
The lucrative deal is set to be worth between $50m and $70m, according to several media sources, including Israeli business publication Calcalist.
Sharon Wagner, CEO of Cloudyn, reveals in the company’s blog post: “The Cloudyn solution will be incorporated into Microsoft’s product portfolio — offering customers the industry’s broadest set of multi-cloud management, security and governance solutions.”
“We are stoked to be joining the Microsoft team and are ready to embark on the next stage of our journey,”
This is Microsoft’s second major deal announcement this month following its recent purchase of Israeli cyber security firm, Hexadite.