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NetApp Acquires CloudCheckr: MSPs Gain Cloud Cost Management, Security Tools

NetApp is acquiring CloudCheckr, a cloud cost management, security and compliance visibility platform. Financial terms of the deal were not disclosed.

This is technology M&A deal number 622 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.

CloudCheckr was private equity-backed ahead of the acquisition. The company had raised $65 million in total funding as of August 2019. Key investors included Level Equity of New York and San Francisco, California.

CloudCheckr and Spot by NetApp: What MSP Partners Gain

CloudCheckr will tuck into the Spot by NetApp business. NetApp acquired Spot in 2020 to help partners and customers automate and optimize public cloud workloads.

The combined CloudCheckr and Spot by NetApp FinOps solution will include billing and usage data for a cloud or multiple cloud environments, management and optimization to help enterprises and MSPs better manage their cloud infrastructure resources, the buyer said. The CloudCheckr platform also includes cloud compliance and cloud security capabilities.

NetApp has been busy in the M&A market. Other noteworthy deals include acquiring Data Mechanics, a managed platform provider that has big data, analytics, Apache Spark and Kubernetes software container expertise, in June 2021.

NetApp Acquires CloudCheckr: Executive Commentary

Anthony Lye, vice president & general manager, NetApp Cloud Data Services BU
Anthony Lye, vice president & general manager, NetApp public cloud services BU
Tim McKinnon, CEO, CloudCheckr

In a prepared statement about the CloudCheckr deal, Anthony Lye, executive vice president and general manager of NetApp’s public cloud services business unit, said:

“Managing costs while accelerating cloud applications is a significant challenge for organizations as they work to maximize the ROI of their cloud investments, all while running at cloud speed. 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. This is a critical step forward in our FinOps strategy as well as an acceleration of our overall CloudOps leadership. Simply put, NetApp continues to empower customers to achieve more cloud at less cost.”

Added Tim McKinnon, CEO of CloudCheckr:

“The combination of Spot by NetApp and CloudCheckr will create a suite of highly complementary and synergistic multi-cloud infrastructure management solutions for our customers and partners. The CloudCheckr team is thrilled to be joining NetApp, and to help advance the company’s leadership in the FinOps space.”

Mergers and Acquisitions: Cloud Cost Management Tools

M&A activity involving cloud cost management tools has been steady. Example deals include:

Mergers and Acquisitions: Cloud Security Posture Management (CSPM) Tools

Meanwhile, example M&A deals in the cloud security posture management (CSPM) market include:

Additional insights from Joe Panettieri.