Local open-source data technology company Instaclustr has been acquired by multibillion-dollar, Nasdaq-listed, cloud tech player NetApp, in a deal industry sources expected to be worth more than $500 million.

Instaclustr, which was started in Canberra in 2013 and is one of the first notable success stories to emerge from the capital, gives businesses a platform that helps them host and manage applications that require mass amounts of data and run multiple, open-source tools such as Facebook’s Cassandra, Kafka and Elasticsearch.