After months of chatter about a deal, it turns out that Microsoft is, in fact, acquiring Cloudyn, a cloud management company based in Israel.
Talks between the two companies were reported in the Israeli press in April, but now the deal has been officially announced in a Microsoft blog by Jeremy Winter, a Microsoft director of product management. No terms were disclosed.
As Fortune reported back in April, six-year old Cloudyn offers software that businesses can use to monitor their use cloud computing resources from Amazon Web Services (amzn), Microsoft, and Google (goog). It also monitors clouds based on OpenStack technology.
In his post, Miller cited an unnamed Fortune 500 company that saw a 286% return on investment using Cloudyn’s technology to boost efficiency.
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According to the Microsoft (msft) blog post, Cloudyn’s technology will become part of Microsoft’s lineup. Reached for comment Cloudyn CEO Sharon Wagner said the focus on multi-cloud management will continue. That makes sense given that many Fortune 500 companies want to use more than one cloud provider, and in this arena, Microsoft is playing catch-up to the Amazon Web Services cloud juggernaut. It is in Microsoft’s best interest to preach multi-cloud at this point.
Cloudyn—and a handful of other companies including RightScale, CloudHealth Technologies, Cloud Cruiser, and Cloudability—all claim to help businesses track cloud spending. Newvem, another contender in this arena, was acquired four years ago by Datapipe.
Note: (June 29, 2017 10:04 a.m. ET) This story was updated to add information about Cloudyn funding.
Note: (June 30, 2017 7:59 a.m. ET) This story was updated again to add comment from Cloudyn CEO Sharon Wagner.