Microsoft is acquiring Israeli cloud startup Cloudyn

Microsoft has confirmed that it is acquiring Israeli cloud monitoring and analytics startup Cloudyn. The deal is thought to be worth between $50 million and $70 million, according to a report back in April from local Israeli business publication, Calcalist.

In a company blog post, Microsoft’s Jeremy Winter wrote, “I am pleased to announce that Microsoft has signed a definitive agreement to acquire Cloudyn, an innovative company that helps enterprises and managed service providers optimize their investments in cloud services.”

Founded in 2012, Cloudyn helps companies automate the process of monitoring their cloud costs through providing analytics and optimization tools. It’s all about improving cloud performance and efficiencies, with companies gaining access to real-time data across various operational and financial metrics.

With companies pursuing a multi-cloud strategy these days, adding Cloudyn’s billing and management solutions to its portfolio will surely give Microsoft an advantage over competitors like AWS and Google Cloud Platform.

Cloudyn has raised more than $20 million since it was founded, including an $11 million round back in 2015, and it already claims big-name clients including Hewlett Packard Enterprise (HPE) and Ticketmaster.

The company’s founders are “thrilled to announce that Cloudyn will be joining Microsoft to continue our mission of optimizing cloud efficiencies and investments,” wrote Cloudyn’s CEO Sharon Wagner in a blog post. “The Cloudyn solution will be incorporated into Microsoft’s product portfolio — offering customers the industry’s broadest set of multi-cloud management, security and governance solutions.”

Microsoft has made a number of cloud-focused acquisitions in recent times. Back in April, it acqui-hired the team behind Deis, a set of open source software tools and services for working with apps packaged within containers. Earlier this month, Microsoft confirmed that it is acquiring Israeli cyber-security startup Hexadite to bring AI to Windows 10 enterprise security.