ST Engineering has beefed up its cloud services portfolio via an investment in CloudSphere, a US-based cloud management and governance vendor. Made through its venture capital arm ST Engineering Ventures, the investment will see the Singapore company expand its current cloud services beyond assessment and migration.
The investment round was made alongside growth equity tech fund, Atlantic Bridge Capital, and would provide ST Engineering “direct access” to hybrid and multi-cloud management and government software and services, the Singapore company said in a statement Tuesday. It added that the investment was part of the organisation’s efforts to drive its capabilities in professional and management services in public cloud.
ST Engineering is a technology, defence, and engineering group focusing on the aerospace, electronics, land systems, and marine sectors. It VC arm invests in startups in high growth areas such as robotics, autonomous technology, and cybersecurity.
ST Engineering’s president of electronics sector Ravinder Singh noted that enterprises operating in hybrid and multi-cloud environments were using many different sets of tools, including in resource provisioning and monitoring, cost reporting, and security, as well as identity dashboards with multiple, disparate control planes.
ST Engineering’s investment in CloudSphere would afford its customers “greater visibility and control” of their multi-cloud inventory, performance, and costs, Singh said. This expansion of its managed services portfolio would enable ST Engineering to tap opportunities with cloud technology, he added.
Amongst CloudSphere’s offerings is its flagship cloud governance platform, which allows customers to manage public cloud deployments with automation tools.
ZDNet asked ST Engineering several questions including the growth rate of its cloud services and how much it invested in CloudSphere. This article will be updated when the company responds.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
