Market Overview

What To Know About Google's Acquisition Of Elastifile

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Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)'s Google unit said Tuesday its acquisition of Elastifile will play a role in improving file storage.

What Happened

Elastifile is a provider of scalable, enterprise file storage for the cloud and will be integrated into the Google Cloud business, Google Cloud CEO Thomas Kurian wrote in a blog post.

Cloud storage is both a "fundamental" need and a "priority" for companies to accelerate a digital transformation. The sector faces challenges associated with file storage for enterprise-grade applications that run at scale in the cloud.

This is where Elastifile enters the picture, Kurian wrote. The company is a leader in solving challenges through its unique software-defined approach to managed Network Attached Storage (NAS). This allows organizations to scale performance or capacity without large overhead.

Why It's Important

"Helping our customers solve difficult storage challenges for their most critical workloads has enabled these enterprises to unleash the full benefits of the cloud," Erwan Menard, CEO at Elastifile, said in the press release. "Helping our customers solve difficult storage challenges for their most critical workloads has enabled these enterprises to unleash the full benefits of the cloud."

Google's acquisition remains subject to regulatory approval and customary closing conditions. Financial terms of the transaction were not made available.

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Posted-In: cloud Elastifile Google Cloud Thomas KurianM&A News Tech

 

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