NVIDIA acquires Israeli startup Excelero for $35 million
NVIDIA acquires Israeli startup Excelero for $35 million
Excelero provides high-performance storage solutions for customers with artificial intelligence, machine learning, high-performance computing, database acceleration and analytics workloads
NVIDIA announced on Monday that it is acquiring Israeli startup Excelero, which develops high-performance software-defined storage. The cost of the deal wasn’t revealed by the companies, but is estimated to be around only $35 million. Excelero, which was founded in 2014, has raised a similar sum since its inception, meaning the acquisition isn’t set to generate a profit for investors. Excelero’s 30 employees are all set to join NVIDIA following the acquisition.
Excelero, founded by Yaniv Romem, Ofer Oshri, Lior Gal and Omri Mann, has collaborated with NVIDIA for years on accelerating Excelero’s storage software with RDMA. Excelero provides high-performance storage solutions for customers with artificial intelligence, machine learning, high-performance computing, database acceleration and analytics workloads. Investors in the company include Battery Ventures, Qualcomm Ventures, Shlomo Kramer, Mickey Boodaei, Square Peg Capital, Mellanox, Western Digital, and more.
Following the acquisition of Mellanox in April 2020, NVIDIA Israel has grown by nearly a third to more than 2,800 employees, with teams based in seven locations: Yokneam, Tel-Hai, Raanana, Tel Aviv-Yafo, Jerusalem, Kiryat Gat and Beer Sheva.
