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Cloud Services Startup Joyent to be acquired by Samsung

Joyent to become Joyful!

Today’s world is the cautious about tremendous competition. Therefore, witnessing companies getting merged or getting acquired isn’t a something new.  Lately, US-based Joyent, a public and private cloud provider has become the face of acquisition. It is because Samsung Electronics had recently made an announcement of its plans to acquire 2004-founded startup, Joyent Inc.

The reason why Samsung chose Joyent?

As per reports, Samsung had earlier evaluated many potential companies in the public and private cloud infrastructure space.  But, it had a focus on leading-edge scalable technology besides talent. Samsung found Joyent impressive because of its experienced management. In addition, Joyent’s management team has deep domain expertise with a robust cloud technology, validated by a number of big Fortune 500 customers.

How will Samsung benefit?

With this acquisition, Samsung would get access to its own cloud platform. Moreover, this will support its mounting line up of mobile, IoT (Internet of things) and cloud-based technologies.

How will Joyent benefit?

Till date, Joyent lacks the scale required to compete effectively in the cloud computing market, which is fiercely competitive. This scenario is bound to change. After getting acquired, Joyent will get access to Samsung’s scale of business, financial muscle and global footprint. These things would be enjoyed by the startup, while operating as a standalone company under Samsung.

Post story of Acquisition

Once it is acquired, Joyent’s team of technologists will join Samsung to work on the brand’s cloud initiatives. This team would also include Joyent’s CEO Scott Hammond, CTO Bryan Cantrill and VP of Product, Bill Fine.

Current Status

However, the acquisition remains subject to customary closing conditions. In simple words, this acquisition is still in talks. Further, both parties still have to agree and settle on a couple of conditions, before it is closed.

The near –past of Joyent

As per reports, Joyent has so far raised a funding of $131 million in total. Their investors include Greycroft Partners, Telefonic Ventures, co-founder of PayPal Peter Thiel and Intel Capital.

As cloud services seem to be the future of the technology sector, Joyent and Samsung have a promising future ahead!

Takeaways :-

  • Samsung Electronics had recently made an announcement of its plans to acquire 2004-founded startup, Joyent Inc.
  • With this acquisition, Samsung would get access to its own cloud platform. Moreover, this will support its mounting line up of mobile, IoT (Internet of things) and cloud-based technologies.
  • After getting acquired, Joyent will get access to Samsung’s scale of business, financial muscle as well as its global footprint.
  • However, the acquisition is still in talks. Further, both parties still have to agree and settle on a couple of conditions, before it is closed.
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