DigitalOcean Completes Acquisition of Cloudways

Rhea-AI Summary

DigitalOcean Holdings, Inc. (NYSE:DOCN) has successfully completed its $350M acquisition of Cloudways, a prominent managed cloud hosting and SaaS provider catering to small and medium-sized businesses (SMBs). This acquisition is anticipated to enhance DigitalOcean's capabilities, enabling SMBs to launch and scale their businesses efficiently. CEO Yancey Spruill highlighted that this strategic move will strengthen their mission to simplify cloud computing, allowing builders to focus more on software development.

Positive

• Acquisition of Cloudways for $350M enhances service offerings for SMBs.
• Strengthens DigitalOcean's position in managed cloud hosting market.
• Expected synergy in simplifying cloud computing for developers.

Negative

• None.

Acquisition broadens DigitalOcean’s capabilities for small to medium-sized businesses

NEW YORK--(BUSINESS WIRE)-- DigitalOcean Holdings, Inc. (NYSE:DOCN), the cloud for developers, startups and SMBs, today announced it has completed its $350M acquisition of Cloudways, a leading managed cloud hosting and software as a service (SaaS) provider for small to medium-sized businesses (SMBs).

“The acquisition immediately strengthens our ability to enable builders to get their ideas on the internet, launch a business quickly, and grow and scale effortlessly,” said Yancey Spruill, CEO at DigitalOcean. “In addition, we are excited to be joining forces with the entire Cloudways team and together will continue our mission to simplify cloud computing so builders can spend more time creating software that changes the world.”

“Running multiple e-commerce stores requires safe, fast and flexible hosting. This we know, but we are not server experts. By moving to Cloudways and DigitalOcean, we not only got the speed and the flexibility we needed for our e-commerce stores, we also got a highly intuitive and easy-to-use interface, easy server scaling, 1-click staging environments along with world-class support,” said Jens Madsen, partner at www.heatxperts.com.

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

About DigitalOcean

DigitalOcean simplifies cloud computing so builders can spend more time creating 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/20220908005328/en/

Media Contact

Spencer Anopol

press@digitalocean.com



Investor Contact

Rob Bradley

investors@digitalocean.com

Source: DigitalOcean

FAQ

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

The acquisition aims to strengthen DigitalOcean's service offerings for small and medium-sized businesses by enhancing its managed cloud hosting capabilities.

How much did DigitalOcean pay for Cloudways?

DigitalOcean acquired Cloudways for $350M.

What impact will the Cloudways acquisition have on DigitalOcean's stock (DOCN)?

The acquisition is expected to enhance DigitalOcean's market position and could lead to increased revenue growth, positively impacting its stock performance.

When was the acquisition of Cloudways by DigitalOcean completed?

DigitalOcean completed the acquisition of Cloudways on September 8, 2022.