JetStream Software acquired by NetApp
Context
NetApp acquires JetStream Software, a disaster recovery and VMware migration specialist, to extend its coverage beyond its proprietary storage installed base. The transaction, announced in August 2026, enables NetApp to protect VMware environments running on competing storage systems, then recover those workloads to its own cloud storage offerings like Azure NetApp Files. The combination addresses a clear commercial imperative: reaching VMware estates that have never relied on NetApp arrays. SnapMirror remains the preferred replication solution for NetApp environments, but NetApp lacked credible coverage for customers equipped with third-party storage. JetStream fills this gap by offering storage-agnostic protection, with recovery steered toward NetApp-controlled destinations. This acquisition transforms an existing technical integration between JetStream and Azure NetApp Files into a product NetApp can sell, support, and package as its own. The strategy rests on two complementary rails: SnapMirror for NetApp, JetStream for the rest, with a common recovery destination. The commercial challenge is converting disaster recovery engagements into lasting NetApp storage consumption, making recovery a door into production migration.
JetStream Software, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).
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Target
JetStream Software is an American company specializing in disaster recovery and VMware workload migration, based in San Jose, California, with an engineering team in Bangalore, India. The company develops solutions for protecting, migrating, and recovering VMware workloads across different storage environments and cloud infrastructures. JetStream's technology enables enterprises and cloud service providers to protect VMware environments running on virtually any storage platform, then recover them to third-party or cloud-native storage destinations. This approach allows customers to start with disaster recovery as a first step toward the cloud, before progressively migrating production workloads as their cloud strategies mature. JetStream already commercializes its solutions with cloud service providers and enterprises, with technical depth close to the VMware hypervisor and recovery workflows. The company has documented recovery capabilities to Azure NetApp Files in Azure VMware Solution even before the acquisition, establishing a technical integration that works in production. JetStream has positioned itself as an alternative to native replication solutions from storage vendors, enabling protection without requiring replacement of existing arrays.
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Historical Financials (EUR)
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: jetstream software
Acquirer: netapp