Digitalocean buys domain name DigitalOcean for $3.7 million

Digitaloceans Domain name DigitaloSea, now owned by DigitalOcean.com, was bought for $2.5 million by the online storage company.

It was acquired from DigitalOcean earlier this year.

The deal is subject to a $1.3 million pre-tax purchase price, which is included in the price of the domain.

The domain has been available on the auction block since August 20.

DigitalOcean will retain the domain name as a service to customers, the company said in a statement.

“The acquisition of DigitalOcean gives us the opportunity to continue expanding our cloud service offerings and enhance our offerings to serve customers who have the technical skills to deploy our products,” said DigitalOcean CEO Matthew Vaughan.

“We are thrilled to partner with DigitalOcean to further accelerate our cloud offerings and continue to grow our business and customer base.”

DigitalOcean has struggled in recent years, losing market share to Amazon.com Inc, eBay Inc, Google Inc, and Microsoft Corp. “DigitalOcean’s core business is in the cloud, but they are also an industry leader in the use of cloud infrastructure, which allows them to scale rapidly,” Mr Vaughan said.

“While we are excited to continue this relationship, we recognize that this acquisition is a great opportunity for our customers and the future of the company.”

The deal comes just months after DigitalOcean bought a smaller online storage provider, CloudFlare, for $250 million.

The online storage firm has been accused of being a front for the Chinese government.

Mr Vaughan also recently stepped down as chief executive.

The Australian business also announced plans to launch a new online payment platform, Zelle, in early 2018.

“In the future, DigitalOcean’s customers will have the flexibility to move their business around, but we believe the platform will be a great tool for our users and the financial services industry to scale,” Mr Varnish said.

Mr Vancoule said the company will continue to invest in its cloud infrastructure business, and that the company would continue to be focused on “delivering great value”.

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