Flexera to Acquire FinOps Business from NetApp, Inc.
Deal News | Jan 15, 2025 | Thoma Bravo
Flexera, a leader in technology spend and risk management, has entered into a definitive agreement to acquire the Spot by NetApp FinOps business from NetApp. This strategic acquisition aims to enhance Flexera's capabilities in managing multi-cloud costs and FinOps needs, integrating Spot's AI and ML solutions with Flexera's cloud expertise to offer comprehensive financial operations solutions. The acquisition is expected to enrich the FinOps Managed Service Provider ecosystem, adding container cost management and bringing new DevOps users into Flexera's community. As organizations increasingly consume cloud resources, driven by AI applications, Flexera aims to provide transparent views of technology spend and risk across IT ecosystems. Jim Ryan, Flexera's CEO, emphasizes the acquisition's alignment with the company's strategic plan. For NetApp, this transaction aligns with its focus on intelligent data infrastructure. The deal, subject to regulatory approvals, does not disclose financial terms.
Sectors
- Cloud Computing
- Financial Technology (FinTech)
Geography
- United States – Flexera is based in Itasca, Illinois, and NetApp is headquartered in San Jose, California, making the transaction relevant to the US market.
Industry
- Cloud Computing – The acquisition involves cloud cost management and computing technologies, which are central to the operations of both Flexera and NetApp.
- Financial Technology (FinTech) – The focus on FinOps and financial operations solutions addresses financial management and cost optimization in technology services.
Financials
- Not disclosed – The financial details of Flexera's acquisition of Spot by NetApp are not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Flexera | Acquirer | Company | Flexera specializes in technology spend and risk management, providing IT asset management, FinOps, and SaaS solutions. |
| NetApp | Seller | Company | NetApp is an intelligent data infrastructure company known for data storage and CloudOps solutions. |
| Thoma Bravo | Private Equity Firm | Company | Thoma Bravo is a private equity firm supporting Flexera's strategic acquisition efforts. |