Files.com recently acquired ExaVault, a cloud file transfer platform for automated file integration.
With around 7,000 B2B customers, the merger is expected to establish the industry’s biggest cloud file platform.
Established in 2009, Files provides optimization tools for developers, partners, IT teams, and users. According to the company, customers utilize the platform for high-profile file automation. Customers include The New York Times, Michelin, PBS, Grubhub and Mozilla.
Although the cloud disrupts the conventional IT sector, the file-sharing market’s most prominent players are still using antiquated on-site technologies like FTP/MFT. Files, on the contrary, has grown at a 65 percent annual rate over the previous few years as organizations gradually adopt cloud-native solutions.
Files and ExaVault
“Traditional file transfer companies like IBM, Progress and HelpSystems charge exorbitant costs yet haven’t been updated in decades”, Files founder Kevin Bombino remarked. “With an inexpensive solution that uses file automation, we expect to capture their client base.”
The company will combine ExaVault’s performance and speed with Files’ expertise in automation and integration. The merger enhances clients’ ability to exchange files rapidly. According to a recent Gartner analysis, the file-transferring business will reach $1.5 billion in 2024.
“We’re thrilled to be joining Files”, ExaVault CEO David Ordal further remarked. As Files’ new CTO, Ordal will lead the company’s product development initiatives.