NetApp To Acquire CloudCheckr For Undisclosed Terms

Cloud-led, data-centric software company NetApp Inc NTAP inked an agreement to acquire cloud optimization platform CloudCheckr. The financial terms of the transaction remain undisclosed.
This acquisition extends FinOps offerings by combining critical cost visibility and reporting from the CloudCheckr platform with continuous cost optimization and managed services from Spot by NetApp.
"By adding cloud billing analytics, cost management capabilities, cloud compliance and security to our CloudOps platform through the acquisition of CloudCheckr, we are enabling organizations to deploy infrastructure and business applications faster while reducing their capital and operational costs," said Anthony Lye, EVP and general manager of NetApp's Public Cloud Services business unit.
NetApp held $4.55 billion in cash and equivalents as of July 30.
Price Action: NTAP shares traded higher by 2.99% at $93.29 in the premarket session on the last check Monday.