London, Tel Aviv and San Francisco, 18 April 2019 – Spotinst, the fast-growing cloud automation and optimization startup, has acquired StratCloud’s technology and activities in a deal that will significantly lower cloud costs for their enterprise customers.
Spotinst helps businesses save up to 90% on their cloud spend by using AI to predict availability of unused cloud capacity. StratCloud’s Reserved Instances provide discounts through committing to usage. Combining this functionality enables enterprises to increase their cloud usage as needed and pay for only what they use.
Buying StratCloud strengthens Spotinst’s vision to optimize and automate infrastructure in the cloud because it enables enterprises to forecast commitment for Reserved capacity and save 30-50% of their costs while reselling it in the Marketplace in the event they no longer need it.
StratCloud provides a continuous optimization platform that buys, sells and converts reserved capacity, maximizing savings for on-demand infrastructure. This leads to lower compute payments, without engineers having to change anything in the applications and infrastructure they manage.
The acquisition means Spotinst can now offer a complete solution for cloud users offering reserved instances and unused computer power so that enterprises can run any workload and support large scale migrations on any cloud provider. Additionally, the combined technologies give Managed Service Providers (MSPs) a comprehensive tool to optimize cloud workloads for all of their managed customers.
Please check out the full announcement in our latest blog.