Skyview Capital has acquired VMware‘s vRealize business enterprise and IT benchmarking business. No financial terms were disclosed. To support and grow this new acquisition, Skyview has formed Digital Fuel SV LLC.
LOS ANGELES (PRWEB) SEPTEMBER 12, 2016
Skyview Capital, a global private investment firm, today announced that it has acquired the VMware vRealize® Business™ Enterprise (formerly known as Digital Fuel IT Financial Management) and IT Benchmarking (formerly known as iTHC) business including customer relationships, core employees responsible for the products and the associated intellectual property (IP) of the products from VMware. Terms were not disclosed, but VMware does not expect this transaction to have a material impact on VMware’s financial statements.
VMware vRealize Business Enterprise and IT benchmarking solutions provide transparency and control over costs and quality of IT services. Skyview Capital has formed a new company—Digital Fuel SV, LLC—around the acquired products and team, and will invest in this entity to accelerate the growth, innovation, adoption and support of these solutions. VMware has an equity investment in Digital Fuel SV LLC and will work with the company to provide ongoing support and services for the customers through the transition. VMware retains vRealize Business for Cloud, a separate product line developed in-house and introduced in October 2014.
vRealize Business Enterprise and IT Benchmarking are leading solutions in the rapidly growing, billion dollar IT Financial Management (ITFM) sector, that provides software tools that help CIOs, IT Managers and Finance Managers that manage IT spending and budgets. ITFM provides IT leaders with tools to manage their costs and services while also demonstrating the value provided by the IT function.
Following VMware’s acquisition of Digital Fuel five years ago, VMware emerged as a leader in the ITFM sector, selling to customers across multiple verticals including Financial Services, Government, Education and Healthcare. vRealize Business Enterprise and IT Benchmarking solutions have helped customers optimize their IT spend and realize significant cost savings, while being more responsive to internal customer needs.
“The ability to understand IT costs and risks has become a top priority for senior executives around the globe, and Digital Fuel is well positioned to address their needs. With VMware’s continued minority interest and our operationally hands-on leadership approach, we expect to drive meaningful value for our customers, partners, and employees globally. We look forward to making near-term strategic acquisitions to expand Digital Fuel’s product and service offerings, while enhancing its value proposition in the industry,” said Alex Soltani, Chairman and CEO of Skyview Capital.
“With our increased focus on customer adoption of the private cloud and extending our support for multi-cloud environments, it was key to identify the right home for our IT Financial Management product lines and team,” said Ajay Singh, senior vice president and general manager, Cloud Management Business Unit, VMware. “We expect Skyview Capital will accelerate the innovation and investment in the vRealize Business Enterprise and IT benchmarking solutions to the benefit of our mutual customers. During the transition, we will work with Digital Fuel to provide customers with on-going support and services.”
About Skyview Capital, LLC
Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 25 transactions within its target market verticals. Visit http://www.skyviewcapital.com.