The combination empowers ITAM and FinOps teams with data and technology intelligence to manage spend and reduce risk in their hybrid IT environments
Itasca, IL, Stockholm and Austin, TX – February, 15 2024 Flexera today announced that it has completed the acquisition of Snow Software. The acquisition gives customers the ability to derive more value from their technology investments with unprecedented visibility into their hybrid IT estate.
“Flexera and Snow share the same mission to maximize the value of technology for our customers.” said Jim Ryan, President and CEO of Flexera. “By joining forces, we bring together unrivaled domain expertise, unmatched technology data and intelligence, and the ability to deliver even more business outcomes for our joint customer base. Flexera’s acquisition of Snow unlocks new opportunities for hybrid ITAM and FinOps. We are excited to broaden the capabilities for customers and partners of both companies.”
Flexera will continue to innovate, enhance, maintain, and support both Flexera and Snow solutions. Partners will have even more support as Flexera will continue to work with partners of both Flexera and Snow, including those that offer hosted options to serve their customers.
With this acquisition, Flexera expands its ability to help organizations manage spend and mitigate risk, generating unified views and actionable insights across the technology landscape. Customers of both Flexera and Snow will have more ways to reduce risk and optimize spend with advanced support for hybrid environments built for every size organization, from large-scale enterprises to mid-size and smaller companies. The combined entity provides both customers and partners an expanded ecosystem and community to help them navigate inflating costs and unquantified risks across cloud, SaaS, containers, on-premises, and AI technologies.
“As global organizations continue to navigate ongoing cost increases, a precarious security landscape, the accelerating pace of AI and uncertain market conditions, they require new levels of support, scale and innovation from their IT partners,” said Vishal Rao, President and CEO at Snow. “Flexera and Snow bringing their considerable domain and technology know-how together means we can tackle these issues head on; all while providing improved customer experiences, an expanded partner ecosystem, and innovative technology across ITAM, SaaS Management, FinOps and beyond. This is the beginning of a new and exciting chapter for Snow, our customers, our partners, and our employees. One we believe is essential to helping organizations fully realize the power of understanding, managing and demonstrating the value of their technology investments.”
About Flexera
Flexera saves customers billions of wasted technology spend. A pioneer in Hybrid ITAM and FinOps, Flexera provides award-winning, data-oriented SaaS solutions for technology value optimization (TVO), enabling IT, finance, procurement, and cloud teams to gain deep insights into cost optimization, compliance, and risks for each business service. Flexera OneTM solutions are built on a set of definitive customer, supplier, and industry data, powered by Technopedia TM, that enable organizations to visualize their Enterprise Technology BlueprintTM in hybrid environments—from on-premises to SaaS to containers to cloud. More than 50,000 customers subscribe to Flexera’s technology value optimization solutions. Learn more at flexera.com
Flexera PR Contact:
Cyndi Tackett
Flexera
[email protected]
About Sumeru Equity Partners
Sumeru Equity Partners (“Sumeru”) provides growth capital at the intersection of people and innovative technology. Sumeru seeks to embolden innovative founders and management teams with capital and scaling partnership. Sumeru’s portfolio includes leading growth-stage companies in sectors ranging from enterprise and vertical SaaS applications, data analytics and education technology to infrastructure software and cybersecurity. The firm typically invests $50-200 million per transaction in North America and Europe. For more information, please visit www.sumeruequity.com.