DigitalOcean, the cloud hosting business, today announced that it’s agreed to acquire Paperspace, a New York-based cloud computing and AI development startup, for $111 million in cash. From a report: DigitalOcean CEO Yancey Spruill says that Paperspace’s infrastructure and tooling, once integrated with DigitalOcean’s products, will enable customers to more easily test, develop and deploy AI applications. As for Paperspace customers, they’ll benefit from DigitalOcean’s cloud services, he says — including databases, storage, app hosting, documentation, tutorials and a robust support system. For now, Paperspace will remain a standalone business unit within DigitalOcean, and Paperspace customers won’t see immediate changes to their service.

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