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The Google Cloud Platform community has been growing at a rapid pace over the last couple of years, with plenty of exciting new collaborations, partnerships, and acquisitions to talk about. For companies that are invested in the GCP - this is excellent news. After all, more acquisitions and mergers mean more opportunities to tap into the latest cutting-edge technology in cloud computing and data management.
Recently, Google announced one of the latest additions to its cloud storage portfolio. In the middle of July, the leading search and technology company announced that it had made a definitive agreement to purchase the Elastifile company. The Elastifile brand, based in California, is a provider of enterprise cloud-based file storage solutions. The total value of the acquisition wasn't revealed, although some rumors have suggested that Google will be paying around $200 million for the new brand.
If the acquisition passes all the required regulatory guidelines to allow it to go through, then Google expects that the purchase will be completed by the end of the year. This will mean that the Elastifile team will also be joining Google Cloud by 2020.
Exciting News for Cloud Storage
Interestingly, Google's decision to purchase Elastifile comes hot on the heels of the launch of the brand-new Elastifile service for the Google Cloud Platform. Elastifile announced the arrival of this new service recently, which offers a fully-managed version of the cloud file management solution for the GCP. According to Thomas Kurian, the CEO of Google Cloud, Elastifile will be integrated into the Google Cloud Filestore in the months to come.
In a blog post about the latest acquisition, Kurian noted that file storage is one of the most important considerations for any enterprise exploring the cloud environment today. Secure storage is also a priority for customers looking for opportunities to accelerate their digital transformation experience. For instance, companies who run SAP will need to be able to access consistent file storage to keep their services up and running. Additionally, developers often rely on compatible file storage too.
Elastifile is an innovator, capable of solving many of the challenges that have been associated with file storage over the years. The company has raised more than $74 million in venture capital leading up to the acquisition from Google - highlighting it's exceptional position in the marketplace.
Getting to Know Elastifile
For several years, Elastifile has been developing state-of-the-art file storage solutions for Amazon Web Services, Google Cloud, and Azure that aim at supporting larger businesses. The startup has taken a software-defined strategy to managed network-attached storage. This process has allowed the company to simplify the management and scaling of their compute-intensive and data-intensive workloads.
Among the wide variety of spotlight features available from Elastifile is a range of service tiers intended to provide users with better cost flexibility, cross-cloud compatibility, and hybrid cloud access. The Elastifile company also supports ClearTier, which can help companies to reduce their object storage costs too.
The CEO of Elastifile, Erwan Menard, noted that the company's services have particular strength in industries like entertainment and media, where artists require highly reliable shared file storage solutions.
According to Elastifile, helping customers to solve common storage challenges for critical workloads is at the heart of what they do. The company is excited to be joining Google for the next part of their growth strategy. They believe that collaboration with Google will help them to build on the success that they have already had with the brand in previous years. According to Elastifile, the demand for file storage should only continue to grow in the years ahead, and Google is well-positioned to help the brand serve these growing storage needs.
Google Continues to Evolve
Google's decision to purchase Elastifile Comes at a time when the technology giant is making consistent steps towards new strategies for profitability in the data and cloud storage space. Google Cloud is growing rapidly in popularity, and the company wants to continue taking advantage of this momentum, with the help of its new CEO.
In Google's most recent earnings calls, the company revealed that the Google Cloud Platform is currently one of the fastest-growing divisions for the Google parent company Alphabet. There's no doubt that we'll continue to see new partnership announcements and acquisitions going forward.
