Singaporean tech and defence engineering firm ST Engineering’s venture capital arm ST Engineering Ventures has closed an investment in US cloud services vendor CloudSphere.
This move is part of ST Engineering’s plan to expand its next-generation technology portfolio and accelerate their hybrid multicloud management and governance capabilities.
“Large enterprises are operating in hybrid and multicloud environments, and using many different sets of tools in resource provisioning and monitoring, cost reporting, security and identity dashboards with multiple, disparate control planes,” said Ravinder Singh, President of ST Engineering’s Electronics sector.
As part of a commercial agreement, ST Engineering will have access to CloudSphere’s hybrid multi-cloud management and governance software technologies to enhance its existing operations in Professional and Managed Services in public clouds.
This, in turn, will allow for greater efficiency and drive ST Engineering’s long-term company growth in professional and managed services in public clouds to provide greater value to its customers.
“Our partnership with CloudSphere will allow our customers to gain greater visibility and control of their multicloud inventory, performance and costs,” added Mr. Singh.
The investment was made jointly with Atlantic Bridge, a global growth equity fund that focuses on investing in the tech sector.
“The transition to the cloud will continue to accelerate as forward-looking organisations like ST Engineering help enterprises navigate their digital transformations,” said Patrick McNally, CEO of CloudSphere.
CloudSphere’s flagship Cloud Governance Platform helps control the challenges of increasingly complex public cloud deployments with automation and intelligence that simplifies how operators govern access to critical resources, minimise security risks and manage spending in the cloud.
“We are excited to work closely with ST Engineering on joint go-to-market activities where our expertise in automation for cloud security and identity governance will allow us to collaborate and provide valuable solutions to their customers,” celebrated Mr. McNally.
CloudSphere’s is said to have the only solution that takes the key data points from application discovery and migration planning to group cloud resources by application, allowing more intuitive governance of cloud resources at the application level.
Much like this deal with CloudSphere, ST Engineering Venture has been scouting and investing in promising technology start-ups in high growth areas such as robotics, autonomous technology, data analytics, cybersecurity and emerging technologies. This is with the aim of building successful, collaborative relationships with start-ups by combining technologies and expertise to co-create breakthrough solutions.