Cloud services provider Digital Ocean has agreed to offer $350 million in cash for the website hosting company Cloudways a tech company with Pakistani origins. The team behind Cloudways also operates different other international and local ventures including PureVPN, Zignaly, and Savyour under Disrupt.com Group.
In an attempt to entice more small- and medium-sized businesses, DigitalOcean will acquire Malta-based Cloudways. A “significant portion” of the $350 million will be paid over a 30-month period following the completion of the acquisition, according to a press statement by DigitalOcean on Tuesday. The deal is anticipated to finalize in September.
Since 2014, the two organizations have collaborated, and about half of Cloudways’ clients are already utilizing DigitalOcean. In the release, Cloudways Chief Executive Officer Aaqib Gadit said, “We have always felt like a member of the DigitalOcean team, so we are tremendously delighted to officially become a part of the company.”
