GigaSpaces to hand out almost $14 million in dividends following Cloudify’s acquisition by Dell
GigaSpaces to hand out almost $14 million in dividends following Cloudify’s acquisition by Dell
Cloudify, which develops cloud orchestration solutions, spun off from GigaSpaces to become an independent company in 2017
Veteran Israeli in-memory technology company GigaSpaces will transfer a dividend of approximately $14 million to its shareholders following the acquisition of Cloudify, which was spun off from it.
American computing giant Dell revealed earlier this year that it purchased Cloudify for an undisclosed amount, estimated to be tens of millions of dollars.
Cloudify, which develops cloud orchestration solutions, spun off from GigaSpaces to become an independent company in 2017. Nati Shalom, the founder and CTO of Cloudify, was also a co-founder of GigaSpaces, which was established back in 1999.
Cloudify offers an open-source cloud management platform designed to connect to any cloud, device, or third-party automation tool and streamline network automation.
Cloudify raised a $7 million financing round four years ago. KPN Ventures, the investment arm of Dutch telecommunication company KPN BV, CreditEase Israel Innovation Fund, Claridge Israel, BRM Group, and VMware all took part in the round.
Investment bank Jefferies advised Cloudify throughout the negotiations with Dell.
