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SDxCentral Quick HitsDigitalOcean Set to Acquire Cloudways — DigitalOcean Holdings, Inc. has agreed to acquire Cloudways, a cloud hosting and software-as-a-service (SaaS) provider for small to medium-sized businesses (SMBs), for $350 million in cash.
The acquisition will enhance offerings for SMBs, according to DigitalOcean, and “simplify workflows for small to medium-sized businesses that are looking for easier ways to build and scale their digital businesses.”
“SMBs represent more than 50% of global gross domestic product (GDP) and spend $70 billion on cloud infrastructure today. With this acquisition, we are making it easier to launch, build and scale a business on DigitalOcean,” CEO Yancey Spruill said. “. . . Together, we will be focused on providing a simple, easy, intuitive, and trusted platform to better serve SMBs so they can build their businesses and pursue their dreams of entrepreneurship.”
The acquisition will grow DigitalOcean’s global employee base by 30%, according to the company, which will serve over 124,000 customers after the purchase is complete.
Revenue-wise, Cloudways is forecasted to contribute between $13 and $15 million for DigitalOcean in fiscal 2022.
The transaction is expected to close in September.
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