DigitalOcean Buys Nimbella; Terms Not Disclosed

(RTTNews) - New York-headquartered DigitalOcean Holdings, Inc. (DOCN), a cloud computing platform, on Tuesday, said it acquired California-based Nimbella, a serverless platform provider. The financial terms of the transaction were not disclosed.

DigitalOcean aims to completely integrate Nimbella's serverless offering and launch its product under the DigitalOcean brand in the first six-month period of 2022.

With the recent acquisition, DigitalOcean also confirmed that there was no change to its previously issued guidance for the current fiscal.

The acquisition allows DigitalOcean to expand its capabilities into a rapidly growing function-as-a-service (FaaS) market and is expected to add an additional serverless compute offering to complement the company's existing Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) offerings, the acquirer said.