Digital Transformation Provider Apptio Acquires FinOps Company Cloudability

May 16, 2019
Digital Transformation Provider Apptio Acquires FinOps Company Cloudability
Digital transformation provider Apptio has acquired FinOps company Cloudability. With headquarters in Bellevue, Washington, United States and a presence in North Carolina, United States, Milan, Italy, and London, United Kingdom, Apptio was established in 2007. The company specializes in hybrid IT services that enable companies to “optimize their technology investments across on-premises and cloud”. Apptio’s acquisition of Cloudability is intended to facilitate its move into the cloud spend management market.

A “pioneer and leader of the emerging FinOps market”, Cloudability is backed by venture capital and has headquarters in Portland, Oregon, United States (alongside a presence in Boulder, Colorado, United States and London, United Kingdom). A member of the ‘FinOps Foundation’, the company’s services help companies manage spending on multi-cloud management environments that include Amazon Web Services (AWS), Microsoft Azure and Google Cloud (GCP). Its services bring “financial accountability to the variable spend model of cloud” and enable its customers to make proper business decisions regarding their cloud usage. It currently manages around “$9 billion in cloud spend”. Apptio will add Cloudability’s capability to its portfolio.

"The cloud has fundamentally changed the traditional IT operating model, enabling digital transformation in companies of all sizes,” explained the CEO of Apptio, Sunny Gupta. “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," said. "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."

"Apptio and Cloudability have long shared a dedication and passion for helping customers navigate disruptive change with powerful technology," added Cloudability’s CEO and founder,
Mat Ellis. "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."

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