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MarketScreener Homepage  >  Equities  >  Nasdaq  >  NetApp, Inc.    NTAP


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NetApp : Closes Acquisition of Spot

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07/13/2020 | 08:06am EDT
NetApp Closes Acquisition of Spot

Spot by NetApp establishes leadership in application-driven infrastructure

SUNNYVALE, CA - July 13, 2020 - NetApp (NASDAQ: NTAP), the leader in cloud data services, today announced that it has completed its acquisition of Spot, a leader in compute management and cost optimization in the public clouds.

Spot by NetApp® delivers application-driven infrastructures (ADIs), cloud infrastructures that use analytics and machine learning to continuously adapt to the needs of applications, to help drive cloud resource optimization in real time, for both compute and storage. ADIs automatically deliver the availability, performance, and capacity that applications need at the lowest cost, accelerating the deployment and innovation of applications. ADIs help application teams shorten development lifecycles and run more applications in their choice of cloud. Customers can save up to 90% of their compute and storage infrastructure expenses, which typically make up 70% of total cloud spending, while maintaining SLAs and SLOs.

'Together, we are extending NetApp's vision for helping customers unlock the best of cloud,' said Anthony Lye, senior vice president and general manager of NetApp's Public Cloud Services business unit. 'With Spot by NetApp, we will enable customers to get more out of their cloud investment to gain competitive advantage and accelerate their business success.'

'Cloud infrastructure gives application developers the ability to develop and deploy applications faster by providing resources almost instantly at any time,' said Amiram Shachar, CEO and cofounder of Spot. 'We are excited to join NetApp in pursuit of the shared vision to help application owners embrace and take advantage of the full power of the cloud.'

Spot by NetApp offers a portfolio of compute and storage services that monitor and analyze the needs of applications and automatically optimize cloud resources to meet those needs. Customers will be able to:

  • Make reliable and greater use of cloud excess compute capacity (aka spot instances) and save up to 90% of compute and storage costs, which typically make up 70% of cloud spend.
  • Use compression, dedup and tiering technology to provide dramatic costs saving, up to 60% less than standard cloud storage
  • Provide full value out of customers' cloud reserved capacity
  • Integrated, actionable approach to managing cloud spend
  • Continuously monitor, analyze and predict applications' resource needs.
  • Proactively optimize cloud infrastructure to meet business and application demands.
  • Automatically scale and adapt to deliver optimized capacity and performance.

Additional Resources

About NetApp
NetApp is the leader in cloud data services, empowering global organizations to change their world with data. Together with our partners, we are the only ones who can help you build your unique data fabric. Simplify hybrid multicloud and securely deliver the right data, services, and applications to the right people at the right time. Learn more at www.netapp.com

Press Contact:
Amelia Vierra

Investor Contact:
Lance Berger

'Safe Harbor' Statement Under U.S. Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected benefits of the transaction, descriptions of NetApp's future strategy and its impact on customers and partners. Actual results, including with respect to NetApp's financial targets and business prospects, could differ materially due to a number of factors, including but not limited to: the response to the acquisition by the customers, employees, and strategic and business partners; actual benefits of the transaction to customers and partners; the ability to retain key personnel; and NetApp's ability to realize its broader strategic and operating objectives. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the section titled 'Risk Factors' in our most recently filed report on Form 10-K. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise.

NETAPP, the NETAPP logo, and the marks listed at http://www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.


NetApp Inc. published this content on 13 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2020 12:05:05 UTC

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