Apptio to acquire Cloudability

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Bellevue, Washington-based business management software company Apptio has signed a definitive agreement to acquire Cloudability, a cloud cost management and financial operations company with offices in Portland, Boulder, Sydney, and London.

The transaction is expected to close during the second quarter of Apptio’s 2019 fiscal year. Terms of the transaction were not disclosed.

Cloudability’s financial operations (FinOps) platform manages more than $9 billion in enterprise cloud spending across AWS, Microsoft Azure and Google Cloud, according to a statement from Apptio.

The integration of Apptio and Cloudability’s technology will focus on cloud/DevOps capabilities including instance planning, predictive forecasting, etc.

[Image courtesy: Cloudability]