US tech giant Amazon is in talks to acquire Ramat Gan, Israel-based cloud computing firm CloudEndure for $250 million, Globes financial website reported on Tuesday, citing sources.
The deal is expected to close in the coming days, Globes said. The Israeli startup was founded in 2012 and has raised some $20 million to date, according to the database of Start-Up Nation Central, which tracks the industry.
CloudEndure’s software enables companies to load their data to and across clouds with near-zero downtime and no data loss that could be caused by human error, network failure or other disruptions, according to the firm’s website.
The firm was founded by Ofer Gadish, Ofir Ehrlich, Gil Shai, and Leonid Feinberg; investors in the company include Dell EMC, VMware, Mitsui, Infosys, and Magma Venture Partners, the website says.
Amazon, through its AWS subsidiary, is one of the biggest suppliers of cloud services globally. The deal will help the firm maintain its competitive advantage over the other cloud computing suppliers, including Microsoft, Alibaba and Google, Globes said.
An Amazon spokeswoman in Israel said the firm does not comment on rumors and speculation. A message send to CloudEndure was not immediately replied.