VMware has signed a definitive agreement to acquire cloud operations platform company CloudHealth Technologies. Financial terms of the deal were not disclosed, but according to a Reuters report the sticker price is roughly $500 million.

Cloud service management company CloudHealth Technologies has raised $20 million in Series C funding. The investment was led by new investor Sapphire Ventures, with participation from Scale Venture Partners, .406 Ventures, and Sigma Prime Ventures. Jai Das, managing director at Sapphire Ventures, will join CloudHealth’s board.