We are excited to announce the acquisition of Spanugo by IBM, marking the acquisition of the fourth of the twelve companies that The Fabric has co-created with entrepreneurs since the inception in 2012.
When Prabakar Sundarrajan and I discussed the major trends in the cloud industry, we found that many companies were beginning to use multiple clouds in early 2017. With this trend, it was expected that applications and infrastructures would need to be transported, and security profiles to be kept consistent across multiple clouds. After we validated our idea, we started looking for entrepreneurs. We were fortunate to meet Doss Karan and Doc Vaidhyanathan, who helped us build the company in the Bay Area and Chennai. Once we formed the team, we further took a look into the market and concluded that security and compliance assurance were being neglected. Peter Jensen joined Spanugo and helped move the company to the next level. Through a fortuitous set of circumstances, IBM discovered Spanugo and decided that it fills a need in their portfolio.
Adding Spanugo’s software to the financial services public cloud will help IBM quickly develop a security control center that will allow customers to define compliance profiles, manage controls, and monitor compliance across their organization in real-time.
The Fabric works with entrepreneurs to co-create and co-found companies in the cloud and IoT infrastructure space. We collaborate from the concept stage, work with entrepreneurs to solidify the idea and product vision, and help them to get to each stage of the company’s evolution. This process is supported and accelerated by the innovation lab in Chennai.
We want to congratulate Spanugo on joining the IBM team.