NetApp Acquires Fylamynt to Bring Automation Capabilities to Spot by NetApp’s Leading CloudOps Portfolio

Rhea-AI Summary

NetApp (NASDAQ: NTAP) has announced its acquisition of Fylamynt, a CloudOps automation technology company. The deal aims to enhance cloud operations for organizations by offering low-code, no-code automation solutions. Though financial details remain undisclosed, this acquisition is projected to integrate seamlessly with NetApp's existing services, particularly Spot by NetApp. NetApp has previously expanded its CloudOps portfolio through strategic acquisitions, strengthening its leadership in this space. The collaboration with Fylamynt is expected to optimize cloud operations while reducing costs for customers.

Positive

• Enhanced cloud operations through Fylamynt's low-code, no-code automation technology.
• Strategic integration with Spot by NetApp for improved service deployment.
• Strengthening of NetApp's CloudOps portfolio with previous acquisitions.

Negative

• None.

SAN JOSE, Calif.--(BUSINESS WIRE)-- NetApp (NASDAQ: NTAP), a global, cloud-led, data-centric software company, today announced that it has acquired Fylamynt, a venture-backed, innovative CloudOps automation technology company that enables customers to build, run, manage and analyze workflows securely in any cloud with little to no code. Financial details of the transaction are not being disclosed.

Organizations moving to and operating in the cloud need to be able to operate at speed and code their infrastructures. Applications must integrate with the services and workflows across their cloud environments. As the number of services and workflows increase, developing and maintaining these integrations and automations quickly becomes expensive, complex and time-consuming, requiring site reliability engineering (SRE) resources. Fylamynt addresses these challenges with its innovative low code, no code technology for cloud automation, enabling DevOps and SREs to scale, optimize and maintain their cloud operations at a fraction of the cost.

“As NetApp has continued to establish itself as a leader in the cloud, the native integration of Fylamynt with Spot by NetApp will allow organizations to rapidly and reliably deploy Spot by NetApp services within their existing cloud environments,” said Anthony Lye, Executive Vice President and General Manager, Public Cloud Services at NetApp. “Customers and partners will benefit from Fylamynt’s low-code framework and cloud automation engine for DevOps and SREs. Combined with Fylamynt’s pre-built integrations and Spot’s full CloudOps portfolio, they will be able to accelerate, optimize and automate their cloud operations infrastructure. This strategic acquisition accelerates NetApp’s overall CloudOps leadership and empowers customers to continue to enjoy more cloud at less cost.”

The acquisition of Fylamynt builds on NetApp’s momentum and investment to grow the Spot by NetApp portfolio of leading CloudOps multi-cloud infrastructure management services. Over the last two years, the company’s strategic acquisitions to expand Spot by NetApp’s portfolio include CloudHawk for security and compliance, Data Mechanics for data analytics and machine learning workloads in the cloud, and CloudCheckr for cloud cost management.

“Fylamynt built a suite of technologies designed to automate every part of a cloud workflow,” said Dr. Pradeep Padala, Co-Founder and CEO, Fylamynt. “With our common vision to help teams deploy and run at cloud speed, we’re excited to integrate our modern cloud automation capabilities into the Spot by NetApp portfolio to ultimately democratize automation for every enterprise.”

About NetApp

NetApp is a global, cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. The company provides systems, software and cloud services that enable them to run their applications optimally from data center to cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloudlike experiences on premises. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services and applications to the right people—anytime, anywhere. Learn more at www.netapp.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc.

"Safe Harbor" Statement Under U.S. Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected benefits of the transaction, descriptions of NetApp's future strategy and its impact on customers. Actual results, including with respect to NetApp's business prospects, could differ materially due to a number of factors, including but not limited to: NetApp’s ability to successfully integrate the acquired personnel and assets, the response to the acquisition by the customers, employees, and partners; actual benefits of the transaction to customers and partners; the ability to retain key personnel; and NetApp's ability to realize its broader strategic and operating objectives. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the section titled "Risk Factors" in our most recently filed reports on Form 10-Q and 10-K. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220223005462/en/

Press Contact

Chris Drago

NetApp PR

chris.drago@netapp.com

Investor Contact

Lance Berger

NetApp IR

lance.berger@netapp.com

Source: NetApp

FAQ

What is the purpose of NetApp's acquisition of Fylamynt?

The acquisition aims to enhance cloud operations by providing low-code, no-code automation solutions to streamline workflows for organizations.

How will the acquisition of Fylamynt impact NetApp's CloudOps services?

It is expected to improve the integration and deployment of Spot by NetApp services, allowing customers to optimize their cloud operations more efficiently.

What financial details are available about the Fylamynt acquisition by NetApp?

Financial details of the transaction have not been disclosed in the press release.

How has NetApp expanded its CloudOps portfolio prior to acquiring Fylamynt?

NetApp has previously acquired companies like CloudHawk, Data Mechanics, and CloudCheckr to enhance its CloudOps multi-cloud infrastructure management services.

What are the expected benefits of the Fylamynt acquisition for NetApp's customers?

Customers can expect accelerated, optimized, and automated cloud operations, leading to cost savings and efficient management of cloud resources.