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Deployment automation company Octopus Deploy has announced its first-ever acquisition, snatching up Sydney-based software container company Dist for an undisclosed amount.
The purchase will help streamline the software deployment process for developers who use “containers” – a type of software used to package code, system tools, libraries and settings - to deploy cloud-native applications faster.
It will also help Octopus customers like Disney, NASA and Commonwealth Bank meet compliance objectives with retention policies and minimise storage costs for cloud-native apps.
Paul Stovell said that Dist’s technology and expertise would be central to the company’s platform as it continues to build out its public and on-premises cloud functionality.
“In the past, if we identified functionality that was missing in Octopus Deploy, our first instinct would have been to spin up a team of engineers to develop that functionality, but as we’re growing and maturing we realize, starting from scratch in-house won’t always be the best way to serve our customers,” he said.
Founded in 2012 by husband-wife founders Paul and Sonia Stovell, Octopus initially began as a side project to help software developers streamline their app testing and deployment workflow, allowing businesses to release new features quicker and more frequently.
Following Insight Partners' $172.5 million investment into the company in April 2021, Octopus Deploy’s revenue has grown by 60 per cent and the company’s staff headcount has also more than doubled to 179 employees.
Approximately 50 per cent of Octopus’ clientele are from the US, followed by Europe at 40 per cent and Australia and New Zealand (combined) at 10 per cent.
In a similar story to its new owners, Sydney-based Dist was entirely bootstrapped by co-founders Yun Huang Yong and Stephen Haynes.
As part of the purchase, both of them will join Octopus Deploy as cloud architects.
“Together with the Dist team, we will make it even easier for software teams to deliver more features and reduce downtime, and with less effort to manage,” said Stovell.
“I am delighted to welcome the Dist team to Octopus Deploy and can’t wait to see what we build together.”
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