Skyview Capital, a global private investment firm
, announced yesterday that it has acquired software company
VMware’s 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 of the deal were not disclosed.
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 named 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.
“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,” said Alex Soltani, Chairman and CEO, Skyview Capital.
“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,” added Soltani.
According to VMware, this transaction will not have a material impact on its financial statements. The software company claims to have made an equity investment in Digital Fuel SV LLC and has revealed plans to work with the company to provide ongoing support and services for the customers through the transition. Also, it would retain vRealize Business for Cloud, a separate product line developed in-house and introduced in October 2014.
“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.”