Apptio completed its third acquisition Wednesday, announcing that it has bought FittedCloud, a fellow provider of tools for monitoring cloud spending, for an undisclosed amount.
FittedCloud’s three Boston-based employees will join Apptio, and co-founder Prakash Manden will become vice president of cloud engineering at the Bellevue-based company. Apptio will continue to support FittedCloud customers, according to a company representative.
There are lots of things about cloud computing that make life easier for technology managers, but keeping track of the cloud budget is not one of them.
Technology buying, especially for cloud services, is now often done by end users in various departments like marketing or finance rather than from a centralized IT organization as in the past. And cloud buyers often overestimate the level of service they’ll actually need when a lower-priced service could do the job just as well.
Apptio’s services allow companies to find all the cloud services with which they are spending money and identify areas to reduce or eliminate that spending. FittedCloud specializes in monitoring spending across cloud infrastructure giant Amazon Web Services using machine-learning techniques to help its customers spend their money more efficiently across the hundreds of services offered by AWS.
Apptio acquired Digital Fuel earlier this year for $42.5 million, the largest deal in its history. The company said the FittedCloud deal was “not material from a financial reporting perspective,” and that it would provide more details about the deal during its next earnings call, scheduled for later this month.