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Ravello employees on lunch break with company scooter

American global computer technology corporation Oracle on Monday signed an agreement to acquire Israeli company Ravello Systems, whose headquarters are in Palo Alto, California, with a research facility in Ra’anan, Israel. According to the announcement of the purchase, all Ravello employees—40 of whom work in Israel, 20 in the US—will be joining Oracle as part of Oracle Public Cloud.

Israeli “serial startuppers,” as The Marker dubbed them, Benny Schnaider and Rami Tamir, stand to make between $400 and $500 million on the deal.

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The Ravello technology allows a team to upload a virtual machine (VM) or Kernel-based Virtual Machine (KVM) without requiring any changes to the application, network or configuration, so that every developer and test engineer on the team can log into Ravello and spin up an application from the blueprint.

Ravello Systems CEO Rami Tamir posted on the company blog the message: “I am thrilled to share that Ravello Systems has entered into an agreement to be acquired by Oracle. The proposed transaction is subject to customary closing conditions. Upon closing of the transaction, our team will join the Oracle Public Cloud (OPC) organization and our products will become part of Oracle Cloud. We believe this agreement will accelerate our ability to reach more customers, deliver more value, and enhance our technology at an accelerated pace in order to better serve you.

“Thank you for your continued support. I want to emphasize that our top priority is ensuring an uninterrupted service and seamless experience for you and all of our customers and partners. Rest assured, Ravello’s service will continue “as is.” In the coming months, we will be working to continue enhancing our value to you and we are looking forward to developing new products and services enabled by this combination.

“Oracle Cloud offers best-in-class services across a full suite of products in software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS). Ravello will join in Oracle’s IaaS mission to allow customers to run any type of workload in the cloud, accelerating Oracle’s ability to help customers quickly and simply move complex applications to the cloud without costly and time-consuming application rewrites.”

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