Apptio Acquires Cloudability Multi-Cloud Spending Management Software
Bellevue, Washington-based technology business management software company Apptio Inc is acquiring Cloudability, a Portland, Oregon company that makes software to manage public cloud spending across Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform (GCP). Financial terms of the deal were not disclosed.
Referring to the deal, Apptio CEO Sunny Gupta said:
“The cloud has fundamentally changed the traditional IT operating model, enabling digital transformation in companies of all sizes. Cloud services represent a significant investment for every company and yet, managing, optimizing and governing the financial and operational details of the cloud is impossible without data science and machine learning. With Cloudability, Apptio becomes the clear, agnostic market leader providing insights, optimization and business value across all technology investments including public cloud services and hybrid infrastructure.”
Cloudability Founder and CEO Mat Ellis added:
“Apptio and Cloudability have long shared a dedication and passion for helping customers navigate disruptive change with powerful technology. Cloudability was built to bring Finance and DevOps together to ensure that the purchase and planning of cloud resources matches utilization, so no dollar is wasted. Now with Apptio, we’re poised to offer the market’s most mature and powerful platform for cloud migration/modernization, optimization, and agility.”
Cloudability was founded in 2011 with the goal of simplifying the multi-cloud billing process. The company’s Financial Operations (FinOps) Platform manages more than $9 billion in enterprise cloud spending across Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform. The offering serves more than 250 enterprise customers including such organizations as Sony, Ganney,and Atlassian.
Apptio’s creates cloud-based applications that allow IT departments to manage, plan and optimize their technology investments across on-premises and cloud. Private equity firm Vista Equity Partners acquired Apptio in 2018 for $1.94 billion. Vista also owns Datto, the MSP-centric technology provider.
Cloud Cost Management: Mergers and Acquisitions
This is the latest in a growing list of M&A deals involving cloud spending management and multi-cloud monitoring tools. Example deals include