Velostrata, an Israel-based cloud migration technology developer backed by semiconductor producer Intel, has agreed to an acquisition by internet technology provider Google.
Financial terms of the deal have not been revealed. The transaction is subject to customary closing conditions, though a timeline has not been disclosed.
Founded in 2014, Velostrata provides software that enables enterprises to manually or automatically migrate data to and from the cloud, depending on which location is most efficient for the task at hand.
The technology will be integrated into the corporate’s cloud computing offering, Google Cloud, to facilitate the onboarding of enterprise clients. Velostrata’s team will join Google’s office in Tel Aviv, Israel.
Velostrata most recently secured $17.5m in a 2016 series B round backed by Intel’s corporate venture capital unit, Intel Capital, and VC firms Norwest Venture Partners and 83North.
Norwest and 83North had previously contributed to a $14m series A round in 2015, when Velostrata emerged from stealth.
Issy Ben-Shaul, co-founder and CEO of Velostrata, said: “I would like to thank our investors for their support and guidance, and most of all our amazing Velostrata team and their families for their extreme dedication, loyalty and perseverance.
“We are truly excited about the future ahead of us and looking forward to continuing the journey together as part of Google Cloud when the deal closes.”