CloudWays Ltd., a provider of cloud infrastructure for developers, has announced that DigitalOcean Holdings Inc. has reached an agreement to buy the company for USD 350 million.
The business runs a platform that makes cloud computing simpler so that software developers can focus more on creating software and less on worrying about infrastructure. With a cloud infrastructure-as-a-service offering, it is targeted at start-ups and small and medium-sized business users.
A “significant portion” of the all-cash transaction will be paid within 30 months of the closing and is anticipated to close in September. Aaqib Gadit, the co-founder and CEO of CloudWays, will continue to serve as its principal executive for the time being. The services provided to current customers will not change as a result of the acquisition.