DigitalOcean Acquires Nimbella For Undisclosed Sum

Cloud computing platform DigitalOcean Holdings Inc DOCN acquired serverless platform provider Nimbella for undisclosed financial terms.
The acquisition expands DigitalOcean's capabilities into the function-as-a-service (FaaS) market.
It also adds serverless compute offering to complement the company's existing Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) offerings, which target developers in small and medium-sized businesses (SMBs).
DigitalOcean plans to fully integrate the Nimbella serverless offering and launch the product under the DigitalOcean brand in the first half of 2022.
DigitalOcean held $577.2 million in cash and equivalents as of June 30.
There is no change to DigitalOcean's 2021 financial outlook as a result of the acquisition. DigitalOcean expects full-year total revenue of $419 million - $423 million versus the consensus of $407.74 million.
Price Action: DOCN shares traded lower by 2.49% at $71.51 on the last check Tuesday.