ByteDance Succeeds in Buyout of Container and AI Technology Company Caicloud
After the acquisition, the team and business of Caicloud will be fully integrated into the ByteDance Volcano Engine.
According to Matrix Partners' news on August 18, ByteDance will soon complete its whole-ownership acquisition of the container platform Caicloud. After the completion of the acquisition, the team and business of Caicloud will be fully integrated into the ByteDance Volcano Engine.
Founded in 2015, Caicloud was initially positioned to provide PaaS services for the Docker Kubernetes management platform. At present, Caicloud aims to lead a new generation of intelligent cloud computing and AI services based on container technology and artificial intelligence. The company's main products include a containerized cluster intelligent cloud platform called "Caicloud Compass" and the ML cloud platform that mounts on top of the containerized platform, known as 'Caicloud Clever.'
On July 30, Zhang Xin, CEO of Caicloud, stated in the company's internal letter: "After Bytedance completes the acquisition, Caiyun Technology's team and business will remain unchanged in terms of commitments to customers, product business, and organizational structure. Under these conditions, the Volcano Engine will combine Caicloud's industry-leading productization capabilities and mature enterprise service experience to build a leading enterprise-level intelligent technology service platform."