ST Engineering has announced that its Corporate Venture Capital unit, ST Engineering Ventures, has joined Atlantic Bridge in the closing of a strategic investment round in CloudSphere, a cloud management and governance provider headquartered in the US and Ireland.
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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.
In an Oct 6 release, Ravinder Singh, President of ST Engineering’s Electronics sector said, “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.”
The release added CloudSphere’s Cloud Governance Platform helps control the challenges of increasingly complex public cloud deployments.
This is through 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, allowing more intuitive governance of cloud resources at the application level.
As at 11.36 am, shares of St Engineering were trading at $3.56, up one cent or 0.28% higher than its previous close of $3.55.
