DigitalOcean To Acquire Cloudways For $350 Mln - Quick Facts

(RTTNews) - DigitalOcean Holdings, Inc. (DOCN) has agreed to acquire Cloudways, a managed cloud hosting and software as a service (SaaS) provider for SMBs. DigitalOcean and Cloudways have been close partners since 2014. Cloudways relies on DigitalOcean infrastructure to power approximately 50% of its customers. DigitalOcean said Cloudways will be accretive to the company's revenue growth rate and will not impact the fiscal 2022 operating profit margin and cash flow margin outlook. Cloudways is expected to generate more than $52 million in revenue in fiscal 2022.