Cloud providers are chasing after AI unicorns, and the latest is Fei-Fei Li’s World Labs. The startup just tapped Google Cloud as its primary compute provider to train AI models, a deal that could be worth hundreds of millions of dollars. But Li’s tenure as chief scientist of AI at Google Cloud wasn’t a factor, […]
Commvault acquires data backup provider Clumio
It must be M&A season. Commvault, a publicly traded data protection and management software company, announced Tuesday that it intends to acquire data backup and recovery provider Clumio for an undisclosed sum. The deal is expected to close in early October. Commvault says it’s not material to its earnings and that it’ll be funded with […]
CloudPay, a payroll services provider, lands $120M in new funding
In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals. It’s still growing, CFO Andy Thomson assures TechCrunch. Thomson claims that CloudPay is handling […]
Bain to take K-12 education software provider PowerSchool private in $5.6B deal
Cloud-based education software vendor PowerSchool is being taken private by investment firm Bain Capital in a $ 5.6 billion deal. The acquisition is the latest in a swathe of take-private deals led by private equity firms seeking a bargain on underperforming enterprise software firms. PowerSchool is a web-based platform that helps educational institutions manage operations […]
Decentralized Storage Provider Says It’s Too Risky for the World to Rely Centralized Cloud Storage Platforms
In the past year, internet giants like Amazon and Google all experienced outages which were blamed on errors and failed upgrades. The occurrence of such outages and their impact around the world again highlighted the importance of having a decentralized internet. Also, just like how the Covid-19 pandemic showed the world that blockchain-based digital currencies […]