VMware buys SaaS co Digital Fuel for $85m
As first reported by "Globes," VMware has announced its second Israeli acquisition.
Digital Fuel is a veteran developer of SaaS IT financial management solutions. CEO Israel Dancziger, CTO Gilad Raz, VP engineering Yakov Kogan, and Benny Lehman who died in 2004, founded the company in 2000. The company has a large number of investors, including Benchmark Capital, Israel Seed Partners, Apax Partners, Sigma Capital, and Check Point Software Technologies Ltd. (Nasdaq: CHKP) founder Shlomo Kramer. $45 million has been invested in Digital Fuel to date.
The acquisition will be VMware's second in Israel, having bought B-Hive Ltd. three years ago for $60 million and built operations of its Israel development center in Herzliyah Pituach around it.
The acquisition of Digital Fuel will add 150 employees to VMware's workforce, a third of them at Digital Fuel's Israeli development center. The acquisition could therefore increase the workforce at VMware's Israeli development center by over 50%.
Published by Globes, Israel business news - www.globes-online.com - on June 13, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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