Cloudways, a Pakistani company that offers small and medium-sized businesses cloud hosting and software as a service (SaaS) capabilities, will be acquired by New York Stock Exchange-listed company DigitalOcean Holdings for $350 million. The agreement has been signed and this is going to be largest ever acquisition from Pakistan.
Since 2014, DigitalOcean and Cloudways have been strong collaborators. About 50 per cent of Cloudways’ clients are currently powered by DigitalOcean infrastructure.
Serving a clientele that is both global and expanding, both companies will service more than 124,000 clients who make monthly payments of over $50, or around 84 per cent of the pro forma company’s total revenue.
