Datadog (NASDAQ:DDOG) stock is climbing higher on Thursday after the cloud monitoring and security company completed its acquisition of Cloudcraft.
The acquisition of Cloudcraft makes sense with Datadog’s focus on cloud monitoring. That’s due to Cloudcraft offering up visualization services for cloud networks. This allows for the creation of real-time diagrams that Datadog can use.
According to Datadog, Cloudcraft will continue to be offered to current customers. It also intends to keep selling plans to new customers. The major change to the service will be its integration into Datadog’s own platform.
Michael Gerstenhaber, Vice President of Product at Datadog, said the following about the acquisition:
“Hundreds of thousands of engineers have designed their cloud infrastructure with Cloudcraft’s clear and readable diagrams […] Combining Datadog’s real-time observability data with Cloudcraft will allow us to shift monitoring further left and support our customers’ success with cloud migrations, container adoptions or other structural changes engineers consider every day.”
DDOG Investors Are Reacting Positively to the News
Traders are behind decent momentum for DDOG stock today with some 3.7 million shares on the move as of this writing. That’s quickly approaching the daily average trading volume of 4.3 million shares as investors buy up the stock.
DDOG stock is up 3.1% as of Thursday morning. However, the stock is still down 53% since the start of the year.
Traders looking for more of the most recent stock market news will want to keep reading!
InvestorPlace offers up all of the hottest stock market coverage traders need to know about on Thursday! Among that is what has shares of Peloton (NASDAQ:PTON), Roku (NASDAQ:ROKU) and Crown Holdings (NYSE:CCK) stock moving today. You can read up on all of that at the following links!
More Thursday Stock Market News
- Peloton (PTON) Stock Slumps on Gloomy Holiday Forecast
- ROKU Stock Plunges on a Stark Advertising Warning
- Carl Icahn Is Making a Big Bet on Crown (CCK) Stock. Here’s Why.
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
