Flexera to Acquire Spot by NetApp FinOps Business
Deal News | Jan 15, 2025 | Globenewswire
Flexera, a leader in technology spend and risk management, has announced its acquisition of the Spot by NetApp FinOps business from NetApp, a company specializing in intelligent data infrastructures. The deal aims to integrate Spot's AI and ML-enabled technology with Flexera's expertise in hybrid cloud management to offer enhanced financial operations solutions. This acquisition reflects Flexera's strategic expansion in FinOps to include services spanning from hybrid cloud to SaaS applications and containers. Jim Ryan, Flexera’s CEO, emphasizes the need for comprehensive visibility into technology spend and risk. Haiyan Song, EVP at NetApp, notes that the transaction supports NetApp's focus on intelligent data infrastructure. The acquisition introduces new capabilities such as Kubernetes cost and commitment management, and aims to expand Flexera's ecosystem of Managed Service Providers (MSPs).
Sectors
- Technology
- Financial Services
- Cloud Computing
Geography
- United States – Both Flexera and NetApp are major companies headquartered in the United States, specifically in Itasca, Illinois, and San Jose, California, respectively.
Industry
- Technology – Flexera and NetApp operate within the technology industry, focusing on cloud cost management, artificial intelligence, data infrastructure, and financial operations.
- Financial Services – The acquisition enhances Flexera's FinOps capabilities, aligning with services that provide financial operations frameworks and cost management solutions.
- Cloud Computing – The acquisition involves multi-cloud and cloud infrastructure, essential components of both Flexera's and NetApp's business models.
Financials
- Not disclosed – The financial details of Flexera's acquisition of Spot by NetApp's FinOps business were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Flexera | Acquiring Company | Company | Flexera is a global leader in technology spend and risk management, providing comprehensive IT asset management and FinOps solutions. |
| NetApp | Selling Company | Company | NetApp is an intelligent data infrastructure company offering data storage, integrated data services, and CloudOps solutions. |
| Spot by NetApp | Target Company | Company | Spot by NetApp focuses on providing automation, optimization, and insights for cloud infrastructure and applications as part of NetApp's FinOps business. |
| Jim Ryan | Flexera's President and CEO | Person | Jim Ryan is the President and CEO of Flexera, spearheading its strategic initiatives in technology spend management. |
| Haiyan Song | Executive Vice President, Intelligent Operations Services | Person | Haiyan Song is responsible for NetApp's intelligent operations services, emphasizing data infrastructure innovation and strategic growth. |