Grid Dynamics, a provider of scalable ecommerce technology solutions, acquired Qubell, a Menlo Park, California-based developer of an autonomic application management platform for cloud applications, and raised a series B financing round of undisclosed amount.
Qubell’s lead investor, Benhamou Global Ventures (BGV), invested in Grid to fund the expansion into cloud services. With the acquisition of Qubell, the company will offer integrated cloud enablement and application management solutions for custom digital platforms on the cloud. Qubell will become a wholly owned subsidiary of Grid Dynamics and its product will be renamed Tonomi to accurately reflect its focus on autonomic application management.
Following the deal, Leonard Livschitz will continue his role as CEO of Grid Dynamics while Victoria Livschitz, co-founder and CEO, will be appointed executive vice president and general manager of Tonomi at Grid Dynamics. Stan Klimoff, co-founder and CTO of Qubell, will join Grid Dynamics as technical fellow and CTO of Tonomi. Eric Benhamou, who served as Chairman of Qubell, will join Grid Dynamics’ Board of Directors.
FinSMEs
17/08/2015