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Thomas Kurian, the new Google Cloud Manager and former President of Product Development at Oracle, speaks at the Oracle OpenWorld conference in San Francisco on September 24, 2013.
David Paul Morris | Bloomberg | Getty Images
Google Cloud makes another acquisition under the new CEO, Thomas Kurian. The company plans to buy the Elastifile cloud storage company, Google said Tuesday.
Google did not put a price tag on the deal in its publication, but said it should be finalized later this year. The shares of Alphabet, its parent company, were relatively stable during the morning negotiations.
Google is looking to expand its cloud business under Kurian, who joined the team in November, replacing former Google Cloud CEO Diane Greene. Google has fallen behind the cloud leaders, Amazon and Microsoft, who each hold a significant share of the market. According to a report by Canalys, Google accounted for 7.6% of the cloud market at the end of 2018, compared to 13.7% for Microsoft and 32% for Amazon.
In June, Google announced its intention to acquire the $ 2.6 billion Looker Data Analysis Company, which would be Kurian's first major acquisition in the company. The Elastifile Agreement adds even more technology to the Google Cloud offering. Google announced that Elastifile would be integrated with Google Cloud Filestore, which would enable more extensive storage and computing capabilities.
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Look: Google Cloud CEO, Greene, replaced by Oracle's executive, Thomas Kurian
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