ST Engineering today announced that its Corporate Venture Capital unit, ST Engineering Ventures, has joined Atlantic Bridge in the closing of a strategic investment round in CloudSphere Limited, a cloud management and governance provider headquartered in Los Altos, California and Dublin, Ireland.
The investment in CloudSphere also includes a commercial agreement that enables direct access to hybrid multi-cloud management and governance software and expertise, immediately enhancing ST Engineering’s current cloud portfolio beyond assessment, planning and migration. This is in line with the Group’s goal to accelerate and scale its capabilities in Professional and Managed Services in public clouds to provide greater value to its customers and drive long-term growth for the company.
“Large enterprises are operating in hybrid and multi-cloud environments, and using many different sets of tools in resource provisioning and monitoring, cost reporting, security and identity dashboards with multiple, disparate control planes. Our partnership with CloudSphere will allow our customers to gain greater visibility and control of their multi-cloud inventory, performance and costs. This enhanced cloud Managed Service Provider capability will empower us to seize the opportunities with cloud technology,” said Ravinder Singh, President of ST Engineering’s Electronics 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, Chief Executive Officer of CloudSphere. “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 collaborate and provide valuable solutions to their customers.”
CloudSphere’s flagship Cloud Governance Platform helps control the challenges of increasingly complex public cloud deployments with automation and intelligence that dramatically simplifies how operators govern access to critical resources, minimise security risks and manage spending in the cloud. It is the only Cloud Governance Platform that takes the key data points from application discovery and migration planning to group cloud resources by application. This unique approach allows more intuitive governance of cloud resources at the application level.
With offices in Singapore, San Francisco, U.S.A., and Tel Aviv, Israel, ST Engineering’s Corporate Venture Capital unit scouts for and invests in promising technology start-ups in high growth areas such as robotics, autonomous technology, data analytics, cybersecurity and emerging technologies. It aims to build successful, collaborative relationships with start-ups, combining technologies and expertise to co-create breakthrough solutions while enabling their access to the Group’s global business ecosystems, expertise and resources.