NetApp, Inc. completed the acquisition of acquire Spotinst LTD. from Springtide Ventures s.r.o., Intel Capital, Vertex Ventures Israel Fund IV managed by Vertex Ventures Israel , Highland Europe (UK) LLP for $340 million.
July 08, 2020
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NetApp, Inc. (NasdaqGS:NTAP) entered into a definitive agreement to acquire Spotinst LTD. from Springtide Ventures s.r.o., Intel Capital, Highland Europe (UK) LLP and Vertex Ventures Israel Fund IV managed by Vertex Ventures Israel on June 3, 2020. The Springtide Venture fund sold 10% stake in SPOT. Spotinst will continue to offer and fully support their products, both now and as part of NetApp when the transaction closes. Transaction is subject to certain regulatory, antitrust approvals and other customary closing conditions. As of June 22, 2020, the Federal Trade Commission has approved the transaction following the early termination of the transaction's review under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. The transaction is expected to close in the first half of NetApp’s fiscal year. Idan Netser, Stephen Fisher and Marshall Mort of Fenwick & West LLP acted as legal advisor to Spotinst. Credit Suisse (USA), Inc. acted as financial advisor to NetApp.
NetApp, Inc. (NasdaqGS:NTAP) completed the acquisition of Spotinst LTD. from Springtide Ventures s.r.o., Intel Capital, Vertex Ventures Israel Fund IV managed by Vertex Ventures Israel , Highland Europe (UK) LLP for $340 million on July 9, 2020. Ed Batts of Gibson, Dunn & Crutcher LLP acted as legal advisor for NetApp.
NetApp, Inc. specializes in the design, manufacturing and marketing of equipment for managing and storing network data. Net sales break down by family of products and services as follows:
- product sales (52%): file, cache and storage servers, data management, content distribution and information synthesis softwares;
- support services (37.1%): consulting, maintenance, technical assistance and training services;
- cloud services (6.3%): cloud storage and data management services;
- professional services (4.6%).
Net sales are distributed geographically as follows: Americas (54.8%), Europe/Middle East/Africa (31.3%) and Asia/Pacific (13.9%).
NetApp, Inc. completed the acquisition of acquire Spotinst LTD. from Springtide Ventures s.r.o., Intel Capital, Vertex Ventures Israel Fund IV managed by Vertex Ventures Israel , Highland Europe (UK) LLP for $340 million.
NETAPP, INC. 
