After months of chatter about a deal, it turns out that Microsoft is, in fact, acquiring Cloudyn, a cloud management company based in Israel.
Talks between the two companies were reported in the Israeli press in April, but now the deal has been officially announced in a Microsoft blog by Jeremy Winter, a Microsoft director of product management. No terms were disclosed.
As Fortune reported back in April, six-year old Cloudyn offers software that businesses can use to monitor their use cloud computing resources from Amazon Web Services (amzn), Microsoft, and Google (goog). It also monitors clouds based on OpenStack technology.
In his post, Miller cited an unnamed Fortune 500 company that saw a 286% return on investment using Cloudyn’s technology to boost efficiency.
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It was unclear from the Microsoft (msft) blog post, which said Cloudyn’s technology would become part of Microsoft’s lineup, whether Cloudyn would continue to support non-Microsoft clouds. However, given that many Fortune 500 companies want to use more than one cloud provider, it would make sense for that multi-cloud focus to continue.
Cloudyn—and a handful of other companies including RightScale, CloudHealth Technologies, Cloud Cruiser, and Cloudability—all claim to help businesses track cloud spending. Newvem, another contender in this arena, was acquired four years ago by Datapipe.
Note: (June 29, 2017 10:04 a.m. ET) This story was updated to add information about Cloudyn funding.