US tech giant Google has entered an agreement to acquire Israel’s Alooma, a startup that helps enterprises move their data into the cloud. The two companies did not disclose the price of the acquisition, though the Globes financial website cited market sources estimating the deal at $100 million to $150 million.
“Leading companies across every industry and around the world are moving to the cloud to be more agile, secure and scalable,” Google’s Amit Ganesh, VP engineering, and Dominic Preuss, director, product management, Google Cloud platform, said in a blog post on Tuesday.
“As organizations modernize their infrastructure to digitally transform themselves, migrating mission critical systems and the data that powers their business success can be daunting. No matter where your data is stored—on premises, in our cloud, or multiple clouds—we want to make that information accessible, valuable, and actionable,” they wrote.
Founded in 2013, the Tel Aviv-based Alooma has raised some $15 million to date from investors including Lightspeed Venture Partners and Sequoia Capital, according to the database of Start-Up Nation Central, which tracks the industry.
Google said Alooma is a leader in data migration, as it has an “innovative data pipeline tool” that allows companies to move their data from multiple sources to one data center.
“The addition of Alooma, subject to closing conditions, is a natural fit that allows us to offer customers a streamlined, automated migration experience to Google Cloud,” the blog said.
The authors also said that they were “looking forward” to adding to their “growing cloud” business in Israel after acquiring Velostrata in summer.
In a separate blog post, also on Tuesday, Alooma founders Yoni Broyde and Yair Weinberger said the acquisition follows the firm’s working together with Google over the years. Being part of Google Cloud will help “make their customers even more data driven and successful.”
“The journey is not over,” they said.