By Will Feuer

Intel Corp. said it is buying Israel-based developer and optimization software company Granulate Cloud Solutions Ltd. for an undisclosed sum.

Intel said the deal will help its cloud and data center customers maximize compute workload performance and reduce infrastructure and cloud costs.

In 2019, Granulate graduated from Intel Ignite, the company's startup accelerator program.

The deal is expected to close in the second quarter of 2022, and Granulate's roughly 120 employees will join Intel's Datacenter and AI business unit.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

March 31, 2022 08:56 ET (12:56 GMT)

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