Washington, USA-based provider of technology business management (TBM) applications, Apptio acquired Cloudwiry. The company announced the acquisition on January 9, 2023. However, it did not disclose the amount of the transaction. 

Cloudwiry, launched in 2016, automates commitment management and optimization on behalf of its enterprise customers. It aids in maximizing savings, reducing risk, and increasing flexibility.

Purpose of acquisition by Apptio

With the latest business transactions, both the companies, Cloudwiry and Apptio, seek to empower thousands of customers all around the world to drive financial and operational excellence in the cloud and hybrid environments with the market’s most mature and powerful platform.  

Besides, Apptio intends to expand its offering. As a part of the deal, Cloudwiry will no longer operate as an independent company. However, Cloudwiry will now be integrated into Apptio.

What the Apptio official has to say

Sunny Gupta, Apptio CEO, said, “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.”

What the Cloudwiry official has to say

Aditya Datta, founder and CEO of Cloudwiry, further added, “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.”

About the company 

In 2016 founder Aditya Datta launched Cloudwiry. Cloudwiry is a cloud cost management and optimization company that delivers autonomous cloud spend optimization. The solution advises, customizes, and automates multi-cloud FinOps best practices, providing coverage across FinOps reporting, categorization, as well as financial automation. Cloudwiry helps companies better manage reserved instances and savings plans through the Cloudwiry Savings Autopilot tool, allowing many to reach 95%+ coverage and 99% utilization. Through Cloudwiry’s automated rate optimization capabilities, their customers recognize immediate and incremental cost savings, added flexibility, and outsourced management of reserved instances and savings plans. The company is based in Austin, Texas.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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