Proven Optics , a leading provider of IT financial management solutions, announced the acquisition of CloudGenera , a provider of innovative cloud financial optimization solutions, continuing its mission to build the industry’s most comprehensive IT financial management application platform. The acquisition of CloudGenera is the first in a series of acquisitions the company plans to make as Proven Optics accelerates its growth and is supported by a majority investment from Silversmith Capital Partners and a strategic investment from ServiceNow.
CloudGenera delivers vendor-neutral IT analytics that provide organizations with the business cases they need to optimize their technology spend. Leveraging advanced AI and machine learning technologies, CloudGenera automates application migration and modernization decisions and dramatically improves the accuracy of cloud cost forecasts, improving IT decision-making.
“The acquisition of CloudGenera marks an important milestone for Proven Optics as we expand our cloud costing product capabilities,” said William Miller, founding partner and co-CEO of Proven Optics. “Together, Proven Optics and CloudGenera will deliver a more comprehensive solution that provides our customers with new IT decision analytics capabilities to drive business cases for cloud migration and optimization.”
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Proven Optics was founded in 2020 to provide IT and finance leaders with the analytics and insights needed to make better business decisions by automating the financial management of complex IT budgets. Delivered on the ServiceNow platform and available in the ServiceNow Store, Proven Optics’ suite of financial management applications provides additional value to ServiceNow customers looking to add a financial lens to their decision-making.
This acquisition reinforces the value Proven Optics customers derive from their investment in ServiceNow as a strategic platform. By delivering critical market insights, Proven Optics and CloudGenera customers will benefit from an integrated solution that improves cloud orchestration and decisions related to budgeting and future forecasting, enabling financial and cloud IT teams to manage the entire process within a single workflow and fully leverage the power of the ServiceNow platform.
“We are excited to join forces with Bill, Ben and the entire Proven Optics team,” said Brian Kelly, Founder and CEO of CloudGenera, who joined Proven Optics as Executive Vice President of Products. “Together, we will provide customers with a comprehensive set of tools to improve IT value and facilitate smarter decision-making across their cloud infrastructure.”
SOURCE: BusinessWire