Bellevue, WA, May 31, 2019 – Apptio, Inc., software that fuels digital transformation, today announced that it has completed the acquisition of Cloudability, Inc., the market leader in multi-cloud financial management. The transaction was originally announced on May 16, 2019 and completed May 31, 2019.
Cloudability’s Financial Operations (FinOps) Platform manages more than $9 billion in enterprise cloud spending across AWS, Microsoft Azure, and Google Cloud. Serving more than 250 enterprise customers globally, Cloudability leverages data science, machine learning, and automation to improve the unit economics and business agility of the cloud.
“I am thrilled to have Cloudability as a member of the Apptio family as we jointly offer technology leaders with the industry’s only cloud agnostic FinOps solution,” said Sunny Gupta, co-founder and CEO of Apptio. “From cloud-native to hybrid and everything in-between, Apptio and Cloudability customers now enjoy the most sophisticated feature set for migration, optimization and cloud-first growth.”
With this acquisition, both Apptio and Cloudability customers will have access to an integrated solution bringing together the best features of both products.
Kirkland & Ellis LLP served as the legal advisor to Apptio to support the acquisition. Davis Wright Tremaine LLP served as legal advisor and KeyBanc Capital Markets Inc. served as exclusive financial advisor to Cloudability in connection with the acquisition.
Apptio fuels digital business transformation. Technology leaders use Apptio's machine learning to analyze and plan their technology spend so they can invest in products that increase the speed of business and deliver innovation. With Apptio, they translate raw costs, utilization, and billing data into business-centric views that help their organization optimize spending, plan strategically, and drive digital strategy that funds growth of the business. Technology leaders can gather instant recommendations that result in 30% saving on cloud services. For more information, please visit www.Apptio.com.
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