US software giant Oracle group has acquired Israeli cloud software company Ravello Systems for approximately $500 million.
Ravello Systems’ CEO Rami Tamir announced the acquisition on the company’s site, and said, “I am thrilled to share that Ravello Systems has entered into an agreement to be acquired by Oracle. The proposed transaction is subject to customary closing conditions. Upon closing of the transaction, our team will join the Oracle Public Cloud (OPC) organization and our products will become part of Oracle Cloud. We believe this agreement will accelerate our ability to reach more customers, deliver more value, and enhance our technology at an accelerated pace in order to better serve you."
Tamir adds that, "Ravello will join in Oracle’s IaaS mission to allow customers to run any type of workload in the cloud, accelerating Oracle’s ability to help customers quickly and simply move complex applications to the cloud without costly and time-consuming application rewrites."
Prior to acquisition, Ravello had raised $54 million over three rounds from investors including SanDisk Ventures, Sequoia Captial, Northwest Venture Partners, Vintage Investment Partners, and Bessemer. Ravello Systems currently works in partnership with Amazon, Google and VMware to make it simple for companies to set up these dev/test labs on their own cloud systems.
Upon completion of the acquisition, Ravello will become part of the Oracle Cloud but will continue to trade “as is” for the foreseeable future.
"Oracle Cloud offers best-in-class services across a full suite of products in software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS)," Tami said.
The company, founded in 2011 by CEO Rami Tamir and chairman and president Benny Schnaider, has 70 employees in Israel and the US.