December 21, 2017
Menlo Park, CA – GrowthPoint is pleased to announce that their client, Cmpute.io, a leading cloud cost optimization technology company, has been acquired by Cisco.
GrowthPoint acted as the exclusive financial advisor to Cmpute.io (also known as 47Line Technologies), headquartered in Bangalore, India. Cmpute.io helps customers analyze cloud-deployed workloads and consumption patterns to implement cost optimization strategies.
Cmpute.io provides a dynamic, automated and frictionless SaaS solution to distribute resources across AWS and optimize applications across 4 key parameters – availability, performance, time and cost. Cmpute.io’s solution utilizes three effective approaches for optimizing costs: (i) resource distribution across on-demand, reserved and spot instances; (ii) intelligent instance scheduling, and (iii) instance right-sizing to avoid overprovisioning
“Being first time entrepreneurs, we were wary of the complexities and requirements needed to get a deal done. However, Nick and Rishi did a great job managing that process and getting us to the finish line” said Paddy Raghavan, CEO of Cmpute.io.
“Cmpute.io’s team and technology will add new capabilities to Cisco CloudCenter and accelerate our delivery of cost-optimization features for our customers,” said Rob Salvagno, Head of Corporate Development at Cisco.
“We couldn’t be happier for what Jags, Paddy, Praveen and the Cmpute.io team has accomplished. With the rapid proliferation of enterprises migrating workloads to multiple cloud providers, understanding and optimizing cloud costs is essential” said Nick DeRose, Director at GrowthPoint. “Cmpute.io will help deliver value for customers with one unified cloud management and cost optimization solution” said Rishi Mehta, Associate at GrowthPoint.
For more information on this deal, please read the official press release.