M&A Deal Summary

NetApp Acquires Instaclustr

On April 7, 2022, NetApp acquired information technology company Instaclustr from Level Equity Management

Acquisition Highlights
  • This is NetApp’s 4th transaction in the Information Technology sector.
  • This is NetApp’s 18th transaction in the United States.
  • This is NetApp’s 6th transaction in California.

M&A Deal Summary
Date 2022-04-07
Target Instaclustr
Sector Information Technology
Buyer(s) NetApp
Sellers(s) Level Equity Management
Deal Type Add-on Acquisition

Target

Instaclustr

Palo Alto, California, United States
Instaclustr is an Open Source-as-a-Service company, delivers reliability at scale. The Company operatesan automated, proven, and trusted managed environment, providing database, analytics, search, and messaging. The Company enables companies to focus internal development and operational resources on building cutting-edge customer-facing applications. Instaclustr was founded in 2013 and is based in Palo Alto, California.

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Buyer(S) 1

Buyer

NetApp

San Jose, California, United States
Category Company
Founded 1992
Sector Information Technology
Employees11,000
Revenue 6.3B USD (2024)
DESCRIPTION
NetApp's corporate headquarters in Sunnyvale, California.
NetApp's corporate headquarters in Sunnyvale, California.

NetApp is a provider of storage systems and data management solutions. The company's storage systems help customers streamline operations and lower the cost associated with storing and managing their data. NetApp's unified fabric-attached storage platform offers a storage platform for business applications, shared infrastructures, and cloud environments. Its E-Series platform offers modular flexibility and custom configuration capability for a variety of workloads. NetApp was founded in 1992 and is based in San Jose, California.

DEAL STATS #
Overall 19 of 19
Sector (Information Technology) 4 of 4
Type (Add-on Acquisition) 17 of 17
State (California) 6 of 6
Country (United States) 18 of 18
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-23 Fylamynt

Mountain View, California, United States

Fylamynt is a CloudOps automation technology company that enables customers to build, run, manage and analyze workflows securely in any cloud with little to no code. Fylamynt was founded in 2019 and is based in Mountain View, California.

Buy -

Seller(S) 1

SELLER

Level Equity Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Level Equity Management LLC is a private investment firm focused on providing equity and structured capital to growth businesses. Sectors of interest include e-commerce, healthcare services, IT, internet software, and media. Level Equity Management was formed in 2009 and is based in New York City.

DEAL STATS #
Overall 14 of 22
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 6 of 10
State (California) 3 of 6
Country (United States) 13 of 20
Year (2022) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-16 WorkHound

Chattanooga, Tennessee, United States

WorkHound is an employee engagement and retention software for frontline workers. WorkHound was founded in 2015 and is based in Chattanooga, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-19 Radix

Scottsdale, Arizona, United States

Radix provides market survey and business intelligence software and data to the multifamily real estate industry. The core product allows managers and owners to benchmark their performance (on metrics such as rent, occupancy, traffic, etc.) against their direct competitors. Radix replaces manual, phone and excel based market survey data gathering and analysis with a cloud-based product that integrates directly into property management systems. Radix was founded in 2015 and is based in Scottsdale, Arizona.

Buy -
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