DigitalOcean to acquire Cloudways

Aug. 23, 2022 8:18 AM ETDigitalOcean Holdings, Inc. (DOCN)By: Pranav Ghumatkar, SA News Editor5 Comments
  • DigitalOcean Holdings (NYSE:DOCN) has entered into an agreement to acquire Cloudways, a managed cloud hosting and software as a service provider for SMBs.
  • The acquisition will simplify workflows for small to medium-sized businesses that are looking for easier ways to build and scale their digital businesses.
  • The transaction accelerates revenue growth, increases high spend customers by 18% and is neutral to operating profit and free cash flow margins.
  • Together, DigitalOcean and Cloudways will serve over 124,000 customers paying over $50/month, representing ~84% of the pro forma company’s total revenue.

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