ST Engineering's corporate venture capital unit, ST Engineering Ventures, has made an undisclosed investment into CloudSphere, a cloud management and governance provider headquartered in California and Dublin, Ireland.
ST Engineering Ventures joined growth equity firm Atlantic Bridge in the closing of a strategic investment round for CloudSphere, ST Engineering and CloudSphere said in a joint press statement on Tuesday. ST Engineering's investment in CloudSphere also includes a commercial agreement which allows direct access to the latter's hybrid multi-cloud management and governance software and expertise.
The agreement immediately enhances ST Engineering's current cloud portfolio beyond assessment, planning and migration. It is also 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.
ST Engineering's electronics sector president Ravinder Singh said the partnership with CloudSphere will allow ST Engineering's customers to gain greater visibility and control of their multi-cloud inventory, performance and costs.
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