Iren is set to acquire cloud infrastructure software provider Mirantis in a deal worth $625 million.

The deal, which will be paid in ordinary Iren shares, will see Mirantis operate as a standalone subsidiary, serving its existing customer base while supporting AI cloud deployments for its prospective parent.

For Iren, the acquisition aims to reduce deployment times for its bare-metal graphic processing unit (GPU) infrastructure and improve operational efficiency through enhanced monitoring and visibility into workload performance.

“Iren’s core advantage is execution – from securing power to building data centers, deploying GPUs and bringing compute online at scale,” Iren co-CEO Daniel Roberts said. “Mirantis builds on our existing capabilities and strengthens how that compute is deployed, managed, and operated for customers.”

Founded in the late 1990s by Boris Renski and Alex Freedland, Mirantis provides OpenStack-related products, offering a commercial version of the open-source tech to power infrastructure workloads across environments.

The firm also has a strong Kubernetes portfolio, using container orchestration to boost infrastructure management. Mirantis’ k0rdent AI platform, for example, is tailored to manage AI infrastructure across bare metal, virtual machines (VMs), and Kubernetes environments.

Mirantis acquired Docker’s Enterprise Platform business in late 2019, snapping up the container platform – along with all of its customers, contracts, and staff – to bolster its already strong Kubernetes stack.

Iren views Mirantis as a means to ensure reliable provisioning, monitoring, and support across its data centers and GPU clusters for AI training and inference.

“Mirantis has spent more than a decade helping enterprises deploy and manage cloud infrastructure. AI is creating a new set of customer requirements, and customers need platforms that are open, flexible, and built for scale,” said Freedland, who serves as Mirantis’ CEO. “Iren brings infrastructure at scale and proven delivery capability. Mirantis adds software and operational expertise that strengthen how customers deploy and use that infrastructure. Together, we will bring AI infrastructure online faster, while continuing to support existing customers and advance the k0rdent AI platform.”

No expected closing date was disclosed, with the deal subject to regulatory approval.