Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Movere in its acquisition by Microsoft. Movere is a SaaS platform that provides the data and insights needed to plan cloud migrations and continuously optimize, monitor and analyze IT environments with confidence.
Movere was founded in 2008 to automate the manual and error-prone process of collecting, indexing and presenting IT data across one or many domains. More than 2,000 customers around the globe have relied on IT intelligence from Movere to make timely digital transformation decisions including cloud migration, performance and cost optimization, security, compliance, and governance.
“This transaction was motivated by the battle for cloud migrations among the ‘big three’ cloud providers, Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). The comprehensiveness and speed of Movere’s discovery solution has been proven to be a competitive advantage for cloud providers looking to migrate Windows workloads,” noted Matt Riendeau, Senior Vice President in Cascadia Capital’s Technology team. “It was a pleasure to have the opportunity to advise Movere. I’m excited to see what the company can accomplish with better access to Microsoft Azure’s financial, technical, marketing and other resources.”
“The acquisition by Microsoft is not just a marriage of a best-in-class and trusted cloud platform with a powerful data and insights platform; it is also the merger of passions of two companies looking to move mountains for customers through a deep partner ecosystem, with the ultimate goal of enabling business transformation delivered at the speed of light,” said Kristin Ireland, Chief Executive Officer at Movere. “There is an enormous amount of energy and enthusiasm about the possibilities for what Movere and Microsoft can do together to continue to bring deeper value (and data!) to customers and partners alike.”
The acquisition represents another successful transaction for Cascadia in the DevOps sector. Past transactions include Travis CI, Scout Server Monitoring and Papertrail. The Movere transaction also represents the seventh deal announced by the firm’s Technology team in 2019.
For more information about this transaction, please contact the Cascadia Capital deal team:
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