London: Akamai Technologies Will Purchase Ondat, a Cloud Storage Company

Mar 21, 2023 | Posted by Abdul-Rahman Oladimeji

Akamai Technologies, an American provider of content delivery services, and Ondat, a provider of cloud storage, have signed a binding agreement. The transaction is anticipated to occur in the first quarter of 2023, and Akamai anticipates no major changes to its annual financial forecast. The acquisition's value has not been disclosed. Ondat is a startup based in London that was founded in 2015 and is officially known as StorageOS Inc. It has received $20 million in funding. Its product is a Kubernetes-native platform for cloud-based storage. The solution automates the assignment of storage to a Kubernetes application, as well as the encryption and compression of the application's data to reduce storage requirements. Employees of Ondat, including its CEO and CTO Alex Chircop, will join Akamai's cloud computing division, Connected Cloud, as a result of the acquisition. 

One year after purchasing Linode for $900 million, Akamai revealed its Linode-based Connected Cloud platform last month. According to Adam Karon, chief operating officer and general manager of Akamai Technologies' Cloud Technology Group, the company revealed Akamai Connected Cloud, the most widely used platform in the world for cloud services, security, and content distribution, last month. In order to offer a fundamentally different approach to cloud computing that incorporates core and distributed processing sites with a massively scaled Edge network, Ondat's technology will improve Akamai's storage capabilities. Storage is a key component of cloud computing. Akamai Technologies offers cloud computing, security, and content delivery services through its Edge network. Now, the company operates in 134 countries and 4,100 sites.