Nasdaq-listed NetApp to incorporate technology by Israeli startup Iguazio

Iguazio offers data management services and artificial intelligence tools designed to improve the performance, security, and scalability of machine learning applications

Meir Orbach 16:0110.06.20
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Nasdaq-listed cloud data services company NetApp Inc. will integrate technology developed by Israel-based big data management startup Iguazio Systems Ltd., the latter announced Wednesday. NetApp will use the artificial intelligence systems of the Israeli company to help data analysis and storage optimization for its customers.

 

The value of the transaction to the Israeli company is valued at millions of shekels.

 

NetApp’s technology analyzes data to identify faults before they occur to optimize and improve its customers' storage solutions around the world. The company wanted to build a digital advisor that uses artificial intelligence to continually generate insights into the quality and performance of its equipment.

 

Iguazio co-founders Yaron Segev (left), Yaron Haviv, and Asaf Somekh. Photo: Yanai Yechiel Iguazio co-founders Yaron Segev (left), Yaron Haviv, and Asaf Somekh. Photo: Yanai Yechiel

 

NetApp’s technology analyzes data to identify faults before they occur to optimize and improve its customers' storage solutions around the world. The company wanted to build a digital advisor that uses artificial intelligence to continually generate insights into the quality and performance of its equipment.

 

Founded in 2014 and based in the central Israeli town of Herzliya, Iguazio offers data management services and artificial intelligence tools designed to improve the performance, security, and scalability of machine learning applications. The company also markets an open-source serverless framework that enables the development of AI applications for manufacturing, healthcare, pharma, insurance, financial services, and telecommunications. The company has raised $73 million to date.

 

“We are glad we were able to provide so much value so quickly to NetApp," Asaf Somekh, Iguazio’s co-founder and CEO said in a statement. “NetApp's system is a great example of what IT services should look like in the new era, and NetApp uses real-time information to optimize and protect its customers' infrastructure,” he said.