US tech giant Amazon is acquiring Israeli cloud computing company CloudEndure for an estimated $250 million, the Globes financial newspaper reported on Monday.
The deal is expected to close in the coming few days. Based in Ramat Gan, CloudEndure was founded six years ago and has raised $20 million.
CloudEndure was founded by CEO Ofer Gadish, CRO Gil Shai, VP R&D Ofir Ehrlich and VP Product Leonid Feinberg. Investors in CloudEndure include Dell, Magma Venture Partners, Zohar Gillon, and InfoSys.
CloudEndure is a cloud computing company that develops business continuity software solutions for disaster recovery, continuous backup, and live migration. The company enables the smooth transfer of data from cloud to cloud.
For example, organizations operating in a multi-cloud environment can save their data and recover it if the cloud collapses. Companies often work with many clouds for financial reasons (lack of dependence on one cloud), and dispersing risk (for example if there is a security breach in the cloud), or for operational reasons (working in many countries or if there is a better data center). CloudEndure's product also enables smoother transfer of data from servers to the cloud.
Amazon, through its subsidiary AWS, is the world's biggest supplier of clouds services, and reportedly wants to maintain its advantage over other major cloud computing suppliers and among other things, strives for smoother transfer of data.
Last year, it was reported that the Amazon.com retail giant was looking to establish a greater presence in Israel and had conducted an online survey on the matter.
In late 2017, Amazon announced that it would open research and development groups in Haifa and Tel Aviv.
Amazon has been active in Israel for the past several years. In early 2015, it purchased the Israeli cloud computing company Annapurna Labs.