Apptio buys Cloudability to enter cloud spend management market
Apptio said it has acquired Cloudability, which makes software that automates and optimizes public cloud spending.
The acquisition will build out Apptio's portfolio focused on tracking technology investments as well as cloud and hybrid cloud infrastructure. Apptio last year went private in a $1.94 billion deal with Vista Equity Partners.
Cloubability is focused on managing multi-cloud deployments and spending across Amazon Web Services, Microsoft Azure and Google Cloud. Cloudability's platform aims to automate cloud operations, improve efficiency and optimize spending.
Companies that optimize cloud spending are likely to become key acquisition targets. For instance, Flexera recently bought RightScale. In addition, cloud customers are often looking to optimize spending after first getting hit by sticker shock. Companies both large and small are trying to get a handle on cloud costs.
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Apptio CEO Sunny Gupto said that Cloudability will give the company a strong foothold in optimizing cloud spending. The broader strategy for Apptio is to use Cloudability's platform to meld business technology management software and DevOps.
Cloudability was founded in 2011 and has more than 250 enterprise customers. Its FinOps platform gives IT, finance and business teams real-time views of cloud spending as well as billing, utilization and rate data for better forecasting. Here's a FinOps overview from Cloudability.