Apptio, the leading provider of TBM tools, announced today the acquisition of Cloudwiry, an industry leader in multi-cloud savings automation and FinOps. Cloudwiry, founded in 2016, automates commitment management and optimization for enterprise customers, maximizing savings, lowering risk, and boosting flexibility.

Cloudwiry, based in Austin, was formed with the goal of reducing the most difficult cloud cost concerns through automation and innovation. Cloudwiry identified waste and inefficiency in the cloud, as well as the ensuing demand for automated financial management and improved cost insights.

Cloudwiry developed a platform focusing on automatic rate optimization, rightsizing, and interactive inventory capabilities across AWS, Azure, and GCP to meet this need. Cloudwiry’s Cloudwiry Savings Autopilot solution assists businesses in better managing reserved instances and savings plans, allowing many to achieve 95%+ coverage and 99% utilization.

With the market’s most mature and powerful platform, Cloudwiry and Apptio will enable thousands of customers worldwide to deliver financial and operational efficiency in cloud and hybrid environments.