Google to Acquire Enterprise Cloud-Storage Company Elastifile

Executive Summary

On July 9, 2019, Google announced via a blog post an agreement to acquire enterprise file-storage provider Elastifile for an undisclosed figure.

• Elastifile provides scalable, enterprise file storage for the cloud, which is a fundamental part of enterprise infrastructure and necessary for customers seeking to accelerate a digital transformation. As critical applications migrate to the cloud, IT teams need simple, natively compatible storage options – plus required features and performance.
• The company is headquartered in the San Francisco Bay Area, has raised a total of $74 million (according to CrunchBase) and has estimated annual revenues of $3 million (according to Owler).
• The acquisition of Elastifile is expected to be completed later this year, subject to customary closing conditions. Upon the close, Elastifile will join Google Cloud.
• Google is bulking up through acquisition to better compete against leaders AWS and Microsoft Azure in the cloud infrastructure segment, having recently announced an agreement to acquire analytics company Looker for $2.6 billion.