IBM has announced the acquisition of Kubecost, a software company specializing in cost management for Kubernetes cluster. Established in 2019, Kubecost is the developer of the open-source software OpenCost, designed to manage cloud cost. Currently, OpenCost is a project under the Cloud Native Computing Foundation (CNCF), and Kubecost’s software is an extension of OpenCost.
Described by IBM as a FinOps (financial operation) company, Kubecost assists in optimizing the value of cloud services by managing workloads to run with the most cost-effective expenses. This is a sought-after solution for many organizational customers.
This acquisition of Kubecost follows IBM’s previous purchase of Apptio in 2023, another FinOps company. Kubecost’s software will be integrated into the existing IBM FinOps Suite, which already incorporates Cloudability from Apptio and Turbonomic, another company acquired by IBM.
Source: IBM, TechCrunch
TLDR: IBM acquires Kubecost, a cost management software company, to enhance its FinOps solutions for optimizing cloud expenses.
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