IT infrastructure solutions and services provider Dell Technologies (NYSE:DELL) has snapped up Israeli company Cloudify for up to $100 million, according to TechCrunch.
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Cloudify offers a cloud orchestration and infrastructure automation platform and the acquisition boosts Dell’s DevOps capabilities. While the actual transaction value remained undisclosed, TechCrunch pegs the figure at up to $100 million.
Impressively, Cloudify’s platform helps engineers navigate and manage a wide array of products including Terraform, Ansible, Kubernetes, and Azure.
Overall the Street has a $50.23 average price target on the stock which indicates a substantial 23.96% potential upside. That’s after a nearly 27% slide in Dell shares over the past year.
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