Microsoft has confirmed previous reports that it’s buying Israeli cloud-monitoring and analytics startup Cloudyn. The deal is thought to be worth between $50-$70 million, according to a report (in Hebrew) back in April from local Israeli business publication the Calcalist, however terms of the deal have not officially been disclosed.

Founded in 2012, Cloudyn helps companies automate the process of monitoring their cloud costs through providing analytics and optimization tools. It’s all about improving cloud performance and efficiencies, with companies gaining access to real-time data across various operational and financial metrics.

“This acquisition fits squarely into our commitment to empower customers with the tools they need to govern their cloud adoption and realize the strategic benefits of a global, trusted, intelligent cloud,” noted Jeremy Winter, Microsoft’s director of program management for Azure security and operations management. “Cloudyn gives enterprise customers tools to identify, measure and analyze consumption, enable accountability and forecast future cloud spending.”

Cloudyn has raised more than $20 million since it was founded, including an $11 million round back in 2015, and it already claims some big-name clients including Hewlett Packard Enterprise (HPE) and Ticketmaster.

It’s worth noting here that Cloudyn already claimed Microsoft as a partner, working with its Azure cloud computing service, however it also works with a number of competing public clouds including Amazon’s AWS and Google’s Cloud.

This is a developing story, refresh for updates.

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