Kumolus, the Melbourne headquartered cloud management platform company, has been acquired by CloudBolt Software, based in the US, in a move designed to aid the latter's APAC expansion plans.

CloudBolt Software provides cloud management and integration solutions to enterprise customers.

The acquisition of Kumolus reportedly strengthens CloudBolt's cloud management platform with a set of cost management, security, and governance capabilities, in addition to positioning the company for growth in APAC.

The acquisition follows CloudBolt's SovLabs acquisition and is subject to customary closing and regulatory approvals.

The addition of Kumolus to CloudBolt aligns to the growing needs that enterprises will demand as they advance adoption of hybrid cloud, the company states.

According to Flexera's 2020 State of the Cloud report, the top three challenges include security (83% of enterprises), managing cloud spend (82%), and governance (79%).

In addition, Gartner states that by 2023, 90% of enterprises will make governance their primary requirement when selecting cloud management tooling, up from less than 30% in 2020.

Founded in 2012, Kumolus is a SaaS-based cloud management platform (CMP) that provides deep day-2 operations and continuous optimisation for AWS and Azure environments.

Today, enterprise IT teams rely on Kumolus to discover and visualise their cloud environments, automate cost management, and continuously enforce security posture and compliance.

With Kumolus, enterprises have been able to reduce cloud spend by up to 60% while meeting regulatory compliance standards like CIS and PCI-DSS, the comapny states.

As one of the only worldwide CMPs to achieve AWS Cloud Management Tools Competency Status, Kumolus is recognised as an AWS Partner Network (APN) member.

The company has customers in Australia, India, and Singapore and an ecosystem of technology, consulting, and MSP partners including NEC Australia, Advent One, and many others.

CloudBolt Software chief executive officer Jeff Kukowski says, “As IT, security, and development organisations aggressively invest in hybrid cloud, the need for improved visibility, cost control, and security is paramount.

“As a SaaS-based solution, Kumolus strengthens CloudBolt's long-standing mission of delivering rapid time-to-value to customers, and we'll be in an even stronger place with Kumolus' visualisation, cost optimisation, and governance capabilities.

“Moreover, as we grow our customer base beyond North America and Europe, we look forward to the momentum and partners that Kumolus has built to accelerate our growth worldwide.

Kumolus chief executive officer and cofounder Josh McGrath says, “CloudBolt continues to extend its leadership position with this acquisition by providing enterprises with the most innovative cost management, security, and governance capabilities for AWS and Azure.

“Kumolus' and CloudBolt's market-leading automation, orchestration, and provisioning capabilities create a powerful combination to help our joint customers and prospects worldwide better meet their hybrid cloud needs.

Kumolus chief technology officer and cofounder Michael Salleo says, “The Kumolus team has worked exceptionally hard over the past few years to bring a leading SaaS-based cloud management platform to market, achieve AWS technical competency, and we're thrilled that CloudBolt has recognised our leadership.

“We're excited to join forces with CloudBolt and accelerate delivery of our solutions to customers globally.