Oracle Acquires DNS-Provider Dyn, Expands Cloud Portfolio
Zacks Investment Research | Nov 21, 2016 09:05PM ET
Oracle Corp (NYSE:ORCL) is expanding its cloud platform through the acquisition of Dyn Inc., a cloud-based provider of Internet performance and domain name service (DNS). Per TechCrunch, Oracle is rumored to have paid more than $600 million for the company.
Dyn primarily monitors, controls and optimizes Internet applications and cloud services, which helps in faster access and reduces page load times. Recently, the company’s services were impacted by massive distributed denial of service (DDoS) attacks.
According to CrunchBase, Dyn had raised some $88 million in funding from investors like North Bridge Venture Partners and Pamplona Capital Management. PitchBook puts the total funding at more like $100 million. Further, Dyn boasts a strong clientele that includes the likes of Netflix (NASDAQ:NFLX), Twitter and Pfizer (NYSE:PFE) among others.
Oracle Continues to Expands Cloud Footprint
The latest deal reflects Oracle’s focus on expanding its cloud computing product portfolio inorganically. The strategy will enable the company to scale up its cloud operations much faster. Through product expansion, Oracle hopes to challenge the dominant position of Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) in both the Platform-as-a-Service (PaaS) and Infrastructure-as-a-Service (IaaS) market.
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