Thought Leadership
Flexera intends to strengthen its position in the FinOps market by acquiring NetApp’s FinOps business unit. NetApp’s Spot technology will expand the provider’s portfolio for software license management and technology intelligence in the area of cloud cost management.
Flexera has signed a binding agreement to acquire the FinOps business unit “Spot by NetApp”. This will further expand the company’s presence in the growing cloud cost management market. The acquisition is expected to enable Flexera to better support organizations in managing their multi-cloud environments. The financial details of the acquisition were not disclosed. However, Bloomberg News, citing people familiar with the matter, reported that the deal is worth 100 million dollars.
AI-supported cost control
With the integration of AI- and ML-based Spot technology, Flexera wants to offer its customers a more comprehensive FinOps solution. This is intended to improve control over cloud spending in hybrid infrastructures, SaaS applications and container environments.
“The current AI boom is driving cloud consumption in companies up exponentially,” comments Flexera CEO Jim Ryan on the acquisition. Many companies are already struggling to track their technology spend transparently. The integration of Spot should help to gain a better overview of the entire IT ecosystem.
Strategic realignment at NetApp
For NetApp, the sale means a further focus on the core business with intelligent data infrastructures. Haiyan Song, Executive Vice President at NetApp, sees Flexera as the ideal new owner for the Spot portfolio.
The Spot technology enables the automated optimization of cloud resources. The acquisition also expands Flexera’s offering to include functions for Kubernetes cost management.
The transaction is still subject to customary closing conditions and regulatory approvals. The parties have agreed not to disclose financial details.
