NetApp Acquires Cloud Analytics Provider Data Mechanics For Undisclosed Sum
- Cloud-led, data-centric software company NetApp Inc (NASDAQ: NTAP) has acquired Data Mechanics, a managed platform provider for big data processing and cloud analytics.
- The financial terms of the transaction remain undisclosed.
- Data Mechanics' offices in Paris, France, helps businesses capitalize on Apache Spark, an open-source unified analytics engine for large-scale data processing and machine learning, in Kubernetes.
- Data Mechanics' team and IP will be integrated with the Spot by NetApp team and portfolio to fast-track the development of NetApp's recently announced Spot Wave solution, which simplifies, optimizes, and automates Spark workloads running in public clouds.
- Data Mechanics will make it simpler and more cost-effective for organizations across all industries to fully leverage Apache Spark and Kubernetes to advance their data and cloud initiatives, NetApp SVP Anthony Lye said.
- NetApp held $4.6 billion in cash and equivalents as of Apr. 30, 2021.
- Price action: NTAP shares closed higher by 1.62% at $79.43 on Monday.
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