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DigitalOcean acquires cloud computing startup Paperspace for $111M in cash

TechCrunch · 1y

Cloud hosting company DigitalOcean has announced its acquisition of Paperspace, a cloud computing and AI development startup, for $111 million in cash. The integration of Paperspace's infrastructure and tools with DigitalOcean's offerings will provide customers with enhanced capabilities for testing, developing, and deploying AI applications. Paperspace customers will also gain access to DigitalOcean's cloud services, including databases, storage, app hosting, and support. This acquisition expands DigitalOcean's portfolio, catering to SMBs and startups with simplified AI and machine learning solutions.