NEW YORK–(BUSINESS WIRE)–DigitalOcean Holdings, Inc. (NYSE:DOCN), the cloud for small and medium-sized companies (SMBs) and startups, has acquired Paperspace, a number one supplier of cloud infrastructure as a service for extremely scalable functions leveraging graphics processing models (GPUs). The acquisition and integration of Paperspace’s superior expertise into the DigitalOcean platform will prolong DigitalOcean’s choices, enabling prospects to extra simply check, develop and deploy synthetic intelligence and machine studying (AI/ML) functions, increase and improve present AI/ML functions and make the most of GPUs in ways in which have predominantly been the area of enormous enterprises.
The rising demand for AI/ML cloud options makes Paperspace’s GPU-powered infrastructure and AI/ML-focused software program stack useful additions to DigitalOcean’s portfolio. Like DigitalOcean’s strategy to the cloud, Paperspace simplifies the AI/ML expertise, enabling simple and cost-effective experimentation and manufacturing throughout numerous AI/ML use instances, corresponding to generative media, textual content evaluation and pure language understanding, advice engines, picture classification, and lots of others.
The acquisition advantages each organizations’ prospects. Paperspace’s prospects will now have entry to a broader cloud companies platform. Paperspace prospects can even achieve entry to DigitalOcean’s intensive documentation, tutorials, and help system to help them of their journey to construct and deploy AI functions. DigitalOcean prospects exploring or already constructing AI/ML functions will now be capable to leverage GPUs alongside their CPU workloads. Collectively, DigitalOcean and Paperspace will present smaller companies and startups with a complete suite of cloud choices, superior networking, and the pliability to harness each GPU and CPU capabilities as AI/ML applied sciences evolve and demand will increase.
“We’re excited to develop our portfolio tailor-made to the world’s SMBs and startups with simplified AI/ML choices,” mentioned Yancey Spruill, CEO of DigitalOcean. “This acquisition marks a major milestone in DigitalOcean’s journey to revolutionize how SMBs and startups harness the ability of the cloud and AI/ML for his or her functions and companies. The mixed choices enable prospects to focus extra on constructing functions and rising their companies and fewer on the infrastructure powering them.”
Paperspace will profit from DigitalOcean’s extremely efficient self-serve mannequin and environment friendly go-to-market technique. The acquisition expands DigitalOcean’s serviceable market and presents cross-sell and upsell alternatives for each entities, leveraging DigitalOcean’s mature platform, environment friendly advertising engine, and its intensive buyer base to drive development.
“DigitalOcean is famend for simplifying complicated cloud applied sciences and making them extra accessible to builders and companies alike,” mentioned Dillon Erb, Co-founder and CEO of Paperspace. “We’re thrilled to affix forces with DigitalOcean, as we consider there isn’t any higher firm to unlock the limitless potentialities of AI/Ml for builders and companies alike.”
Importantly, the alignment in organizational historical past and tradition between DigitalOcean and Paperspace will guarantee a clean integration course of and a collaborative work setting. The 2 corporations’ shared values and dedication to buyer success will proceed to foster innovation, improve buyer experiences, and reinforce each entities as business leaders in cloud computing.
Transaction Phrases
Beneath the phrases of the transaction, DigitalOcean acquired Paperspace for $111 million in money. The acquisition is predicted to have an immaterial impression on 2023 monetary outcomes. “Paperspace is a quickly rising enterprise with vanguard expertise that considerably accelerates our AI/ML capabilities. We anticipate it to reinforce our income development in 2024 and past and we are going to make investments commensurately to additional speed up its development and take full benefit of this large rising market alternative,” mentioned Matt Steinfort, DigitalOcean’s CFO. On its Q2 2023 earnings name on August 3, 2023, DigitalOcean will share extra particulars on the strategic advantages of the acquisition and replace the Firm’s monetary outlook for 2023.
About DigitalOcean
DigitalOcean simplifies cloud computing so companies can spend extra time creating software program that modifications the world. With its mission-critical infrastructure and totally managed choices, DigitalOcean helps builders at startups and small and medium-sized companies (SMBs) quickly construct, deploy and scale, whether or not making a digital presence or constructing digital merchandise. DigitalOcean combines the ability of simplicity, safety, group and buyer help so prospects can spend much less time managing their infrastructure and extra time constructing modern functions that drive enterprise development. For extra info, go to digitalocean.com.
About Paperspace
Paperspace is a cloud platform for constructing and scaling AI functions. Paperspace buyer use-cases embrace deploying LLMs, fine-tuning Basis Fashions, constructing the subsequent ChatGPT, harnessing generative media, and lots of extra. Tens of 1000’s of people and companies use Paperspace to discover new fashions with Notebooks, automate coaching with Workflows, and convey their functions to life with Deployments.
Ahead-Trying Statements
This press launch could include forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These forward-looking statements could also be recognized by their use of phrases and phrases corresponding to “anticipate,” “allow,” “anticipate,” “will,” “consider,” “proceed” and different related phrases and phrases. The result of the occasions described in these forward-looking statements is topic to recognized and unknown dangers, uncertainties and different elements that would trigger precise outcomes to vary materially from the outcomes anticipated by these forward-looking statements, together with these elements contained within the “Danger Elements” part of our SEC filings. It isn’t doable for us to foretell all dangers and uncertainties that would have an effect on the forward-looking statements contained on this launch. The outcomes, occasions and circumstances mirrored within the forward-looking statements is probably not achieved or happen.
NEW YORK–(BUSINESS WIRE)–DigitalOcean Holdings, Inc. (NYSE:DOCN), the cloud for small and medium-sized companies (SMBs) and startups, has acquired Paperspace, a number one supplier of cloud infrastructure as a service for extremely scalable functions leveraging graphics processing models (GPUs). The acquisition and integration of Paperspace’s superior expertise into the DigitalOcean platform will prolong DigitalOcean’s choices, enabling prospects to extra simply check, develop and deploy synthetic intelligence and machine studying (AI/ML) functions, increase and improve present AI/ML functions and make the most of GPUs in ways in which have predominantly been the area of enormous enterprises.
The rising demand for AI/ML cloud options makes Paperspace’s GPU-powered infrastructure and AI/ML-focused software program stack useful additions to DigitalOcean’s portfolio. Like DigitalOcean’s strategy to the cloud, Paperspace simplifies the AI/ML expertise, enabling simple and cost-effective experimentation and manufacturing throughout numerous AI/ML use instances, corresponding to generative media, textual content evaluation and pure language understanding, advice engines, picture classification, and lots of others.
The acquisition advantages each organizations’ prospects. Paperspace’s prospects will now have entry to a broader cloud companies platform. Paperspace prospects can even achieve entry to DigitalOcean’s intensive documentation, tutorials, and help system to help them of their journey to construct and deploy AI functions. DigitalOcean prospects exploring or already constructing AI/ML functions will now be capable to leverage GPUs alongside their CPU workloads. Collectively, DigitalOcean and Paperspace will present smaller companies and startups with a complete suite of cloud choices, superior networking, and the pliability to harness each GPU and CPU capabilities as AI/ML applied sciences evolve and demand will increase.
“We’re excited to develop our portfolio tailor-made to the world’s SMBs and startups with simplified AI/ML choices,” mentioned Yancey Spruill, CEO of DigitalOcean. “This acquisition marks a major milestone in DigitalOcean’s journey to revolutionize how SMBs and startups harness the ability of the cloud and AI/ML for his or her functions and companies. The mixed choices enable prospects to focus extra on constructing functions and rising their companies and fewer on the infrastructure powering them.”
Paperspace will profit from DigitalOcean’s extremely efficient self-serve mannequin and environment friendly go-to-market technique. The acquisition expands DigitalOcean’s serviceable market and presents cross-sell and upsell alternatives for each entities, leveraging DigitalOcean’s mature platform, environment friendly advertising engine, and its intensive buyer base to drive development.
“DigitalOcean is famend for simplifying complicated cloud applied sciences and making them extra accessible to builders and companies alike,” mentioned Dillon Erb, Co-founder and CEO of Paperspace. “We’re thrilled to affix forces with DigitalOcean, as we consider there isn’t any higher firm to unlock the limitless potentialities of AI/Ml for builders and companies alike.”
Importantly, the alignment in organizational historical past and tradition between DigitalOcean and Paperspace will guarantee a clean integration course of and a collaborative work setting. The 2 corporations’ shared values and dedication to buyer success will proceed to foster innovation, improve buyer experiences, and reinforce each entities as business leaders in cloud computing.
Transaction Phrases
Beneath the phrases of the transaction, DigitalOcean acquired Paperspace for $111 million in money. The acquisition is predicted to have an immaterial impression on 2023 monetary outcomes. “Paperspace is a quickly rising enterprise with vanguard expertise that considerably accelerates our AI/ML capabilities. We anticipate it to reinforce our income development in 2024 and past and we are going to make investments commensurately to additional speed up its development and take full benefit of this large rising market alternative,” mentioned Matt Steinfort, DigitalOcean’s CFO. On its Q2 2023 earnings name on August 3, 2023, DigitalOcean will share extra particulars on the strategic advantages of the acquisition and replace the Firm’s monetary outlook for 2023.
About DigitalOcean
DigitalOcean simplifies cloud computing so companies can spend extra time creating software program that modifications the world. With its mission-critical infrastructure and totally managed choices, DigitalOcean helps builders at startups and small and medium-sized companies (SMBs) quickly construct, deploy and scale, whether or not making a digital presence or constructing digital merchandise. DigitalOcean combines the ability of simplicity, safety, group and buyer help so prospects can spend much less time managing their infrastructure and extra time constructing modern functions that drive enterprise development. For extra info, go to digitalocean.com.
About Paperspace
Paperspace is a cloud platform for constructing and scaling AI functions. Paperspace buyer use-cases embrace deploying LLMs, fine-tuning Basis Fashions, constructing the subsequent ChatGPT, harnessing generative media, and lots of extra. Tens of 1000’s of people and companies use Paperspace to discover new fashions with Notebooks, automate coaching with Workflows, and convey their functions to life with Deployments.
Ahead-Trying Statements
This press launch could include forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These forward-looking statements could also be recognized by their use of phrases and phrases corresponding to “anticipate,” “allow,” “anticipate,” “will,” “consider,” “proceed” and different related phrases and phrases. The result of the occasions described in these forward-looking statements is topic to recognized and unknown dangers, uncertainties and different elements that would trigger precise outcomes to vary materially from the outcomes anticipated by these forward-looking statements, together with these elements contained within the “Danger Elements” part of our SEC filings. It isn’t doable for us to foretell all dangers and uncertainties that would have an effect on the forward-looking statements contained on this launch. The outcomes, occasions and circumstances mirrored within the forward-looking statements is probably not achieved or happen.
