Apptio, a technology business management (TBM) applications company, has acquired multi-cloud automation firm Cloudwiry for an undisclosed amount.
This is technology M&A deal number 12 that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Apptio Acquires Cloudwiry for FinOps Expansion
Apptio, founded in 2007, is based in Bellevue, Washington. The company has 1,371 employees listed on LinkedIn. Apptio’s areas of expertise include technology business management (TBM) solutions, IT cost transparency, IT service costing, IT financial management, bill of IT, budgeting and forecasting, Agile investment management and cloud cost management.
Cloudwiry, founded in 2016, is based in Austin, Texas. The company has 25 employees listed on LinkedIn. Cloudwiry’s areas of expertise include cloud cost optimization, FinOps and cloud cost visibility.
No word on whether Cloudwiry will continue under its current banner, but the companies said that the deal will allow each of them to help drive financial and operational excellence in the cloud and hybrid environments. Apptio previously acquired cloud services provider Cloudability in April 2019.
Private equity firm Vista Equity Partners acquired Apptio in 2018 for $1.94 billion. Vista also owns Datto, the MSP-centric technology provider.
Apptio Acquires Cloudwiry: Executive Insight
Sunny Gupta, CEO, Apptio, commented:
“As broad macroeconomic headwinds continue to present themselves, our customers increasingly rely on Apptio for visibility, optimization, and automation to manage their public cloud spend. By pairing Apptio’s market-leading Cloudability with Cloudwiry, we are able to provide customers with unparalleled visibility, insights, planning, optimization, and automation capabilities for reservations and savings plans, helping customers deploy the most efficient cloud infrastructure footprint to fuel innovation and meet business demands.”
Aditya Datta, founder and CEO, Cloudwiry, said:
“Not only do strong synergies exist between the Apptio and Cloudwiry products, but we also have a shared passion for helping customers increase productivity, reduce waste, and save money. Cloudwiry was built to automate cloud financial instruments like reserved instances and savings plans so that FinOps practitioners could focus their time on more important priorities and companies could recognize more meaningful savings with better coverage and utilization.”
