Grid Dynamics, a US-based e-commerce platform provider that is backed by Russian government-owned Russian Venture Company, has acquired US-based cloud application management platform Qubell for an undisclosed amount.
Alongside this acquisition Grid Dynamics has raised an undisclosed amount in series B funding from Qubell’s lead investor, Benhamou Global Ventures, a US-based venture capital firm. The Russian Venture Company first invested in Grid Dynamics in 2010, details about the investment however were not disclosed.
Qubell, that has worked with Grid Dynamics since it was established in 2013, will become a wholly-owned subsidiary of Grid Dynamics. Grid Dynamics plans to rename the company to Tonomi.
Leonard Livschitz, chief executive of Grid Dynamics, said: “Tonomi’s powerful automation technology will further enable us to deliver what our customers are asking for: fast, safe and secure management of applications and their environments on public and private clouds. Grid Dynamics’ traditional focus on developer support, coupled with Tonomi’s focus on application delivery and operational support, make our company uniquely positioned to transition our customers to the cloud.”