Tech giant Google announced on Tuesday that it has agreed to acquire Israeli cloud storage company Elastifile, financial news portal Globes reported.
The acquisition is expected to be completed later this year and is subject to customary closing conditions, including the receipt of regulatory approvals. Elastifile will join Google Cloud upon finalization of the acquisition.
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Based in Herzliya and Santa Clara, California, Elastifile provides scalable, enterprise file storage for the cloud.
Elastifile was founded in 2013 by Amir Aharoni, Shahar Frank, and Roni Luxenburg, and has raised $75 million to date. Investors include Western Digital Capital, CE Ventures, Lightspeed Venture Partners, Battery Ventures, Dell Technologies Capital and Cisco Investments.
"We're excited to join Google for the next part of our journey, building on the success we've had together over the past two and a half years," said Erwan Menard, CEO of Elastifile.
"File storage is essential to enterprise cloud adoption and, together with Google, we are well-positioned to serve those needs," he added.
"The combination of Elastifile and Google Cloud will support bringing traditional workloads into GCP (Google Cloud Platform) faster and simplify the management and scaling of data and compute intensive workloads," Google Cloud CEO Thomas Kurian wrote in a company blog post.
"Elastifile is a pioneer in solving the challenges associated with file storage for enterprise-grade applications running at scale in the cloud," Kurian added.
