Dell Scoops Israel's Cloudify To Boost Cloud Offerings - Dell Technologies (NYSE:DELL)

Dell Technologies Inc DELL acquired Cloudify to beef up its cloud services business, specifically its offerings in DevOps.
The Israeli startup has built a platform for cloud orchestration and infrastructure automation, TechCrunch reports.
The purchase consideration ranged between $70 million - $100 million.
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Cloudify’s tools serve cloud architects and DevOps engineers to manage containers, workloads, and more across hybrid environments.
Cloudify was spun out from GigaSpaces in 2017. Nati Shalom, the founder and CTO of Cloudify, was also a co-founder of GigaSpaces.
Since then, the startup has raised less than $8 million.
Dell reported third-quarter revenue of $24.7 billion, which beat average analyst estimates of $24.53 billion. The company said third-quarter revenue was down 6% year-over-year.
Dell reported third-quarter earnings of $2.30 per share, which beat estimates of $1.60 per share.
Dell held $6.5 billion in cash and equivalents as of October 28.
Price Action: DELL shares traded higher by 0.02% at $40.51 on the last check Thursday.