DigitalOcean Acquires Serverless Platform Provider Nimbella

Rhea-AI Summary

DigitalOcean Holdings, Inc. (NYSE:DOCN) has announced the acquisition of Nimbella, a serverless platform provider, to enhance its offerings in the function-as-a-service (FaaS) market. This acquisition aims to simplify serverless computing, enabling developers to deploy applications rapidly and economically. Nimbella's technology builds on robust open-source projects, addressing specific developer needs. The integration of Nimbella’s services is expected to occur in the first half of 2022, with no changes to DigitalOcean's 2021 financial outlook.

Positive

• Acquisition of Nimbella expands DigitalOcean's capabilities into the function-as-a-service market.
• Simplifies cloud-native application development for developers and SMBs.
• No change to financial outlook for 2021 due to the acquisition.

Negative

• None.

Acquisition expands DigitalOcean’s current PaaS offerings to maximize developer productivity

NEW YORK--(BUSINESS WIRE)-- DigitalOcean Holdings, Inc. (NYSE:DOCN), the cloud for developers, startups and SMBs, today announced the acquisition of Nimbella, a serverless platform provider. The acquisition expands DigitalOcean’s capabilities into the rapidly growing function-as-a-service (FaaS) market and will add an additional 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).

Serverless computing removes the operational complexity in cloud-native environments for application developers as they create new applications and APIs, or modernize existing ones for their companies. Serverless enables rapid development and deployment, allowing businesses to significantly reduce development costs and increase productivity without sacrificing performance to support their use case.

Nimbella was designed specifically to address the challenges developers face in adopting serverless computing. Nimbella builds on Kubernetes and Apache OpenWhisk, both of which are mature production-ready open source projects. Nimbella supports the needs of event-based and long-running applications, as well as more complex use cases that utilize artificial intelligence and machine learning. Earlier this year, Nimbella was named a Strong Performer in The Forrester Wave™: Function-As-A-Service Platforms, Q1 2021.

“Serverless computing is the next evolution of cloud that further removes the need for developers to manage complex infrastructure. We are excited to have Nimbella join DigitalOcean to address specific needs often requested by our customers and fills a gap in the current serverless offerings in the market,” said Yancey Spruill, CEO at DigitalOcean. “People want to access the benefits of serverless capabilities without a significant learning curve and they want functionality and pricing that is easy to understand and predictable. Nimbella provides all of this with the same simplicity and open source software standards that are core value propositions for DigitalOcean.”

“Our mission has been clear since the beginning—to build a serverless platform that unlocks the power and capabilities of the cloud for developers of all skill sets. This in turn allows new applications and APIs to be created faster, more securely and more economically. Joining DigitalOcean provides us a tremendous opportunity to accelerate this vision,” said Anshu Agarwal, CEO of Nimbella. “We are looking forward to integrating the Nimbella serverless platform with DigitalOcean's core services and products and empowering developers and SMBs to build and scale their cloud applications and APIs with the same ease and simplicity they have come to expect from DigitalOcean.”

Terms of the transaction were not disclosed and there is no change to DigitalOcean’s 2021 financial outlook as a result of the acquisition. DigitalOcean plans to fully integrate the Nimbella serverless offering and launch the product under the DigitalOcean brand in the first half of 2022.

For more information on DigitalOcean, visit https://www.digitalocean.com.

About DigitalOcean

DigitalOcean simplifies cloud computing so developers and businesses can spend more time building software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers, startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale applications to accelerate innovation and increase productivity and agility. DigitalOcean combines the power of simplicity, community, open source, and customer support so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth. For more information, visit digitalocean.com or follow @digitalocean on Twitter.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their use of terms and phrases such as “anticipate,” “enable,” “expect,” “will,” “believe,” “continue” and other similar terms and phrases. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including those factors contained in the “Risk Factors” section of our SEC filings. It is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this release. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210907005248/en/

Media Contact

Shannon Paulk

press@digitalocean.com

Investors Contact

Rob Bradley

investors@digitalocean.com

Source: DigitalOcean Holdings, Inc.

FAQ

What is the purpose of DigitalOcean's acquisition of Nimbella?

The acquisition aims to enhance DigitalOcean's function-as-a-service capabilities, simplifying serverless computing for developers.

When will DigitalOcean integrate Nimbella's services?

DigitalOcean plans to fully integrate Nimbella's serverless offerings and launch them under its brand in the first half of 2022.

How does the acquisition of Nimbella impact DigitalOcean's financial outlook?

There is no change to DigitalOcean's 2021 financial outlook as a result of the acquisition.

What technology does Nimbella utilize?

Nimbella builds on Kubernetes and Apache OpenWhisk, leveraging mature open-source projects for serverless computing.