Icertis announced that it is spinning out its cloud solutions and services business into a new company, CloudMoyo. Moving ahead, Icertis will solely focus on its industry leading and analyst recognized, cloud-based enterprise contract management business. CloudMoyo will have a dedicated focus on cloud and data analytics based ERP-surround enterprise solutions for the High Tech, Life Sciences, and Transportation industry verticals, and accelerate growth in this market.
The cloud and data analytics based ERP-surround solutions market is forecast to grow to over $100 billion in the next 3 years per industry analysts. CloudMoyo is poised to continue to lead in this fast growing market owing to its unique capabilities at the intersection of cloud and data analytics:
“I have always believed that to build a successful company, one has to either create or ride a wave. With its products, solutions, and expertise, CloudMoyo is in a terrific position to ride the $100 billion cloud and data analytics wave,” said Samir Bodas, the Chairman of CloudMoyo. He continues, “The company’s innovative approach will help customers reimagine their business.”
Speaking on the occasion of the spin out, Manish Kedia, the newly appointed CEO and President of CloudMoyo said, “CloudMoyo is a born in the Microsoft cloud company that brings disruptive technologies together to offer our customers modern enterprise cloud solutions informed by big data insights.” He further added, “With these solutions and anchor customers in our target verticals, we will lead the industry to unleash innovation and create new business value.”
“CloudMoyo is positioned at the intersection of business and technology, allowing them to quickly come up to speed with our complex processes and business requirements.” said Bernard Dakar, Director Business Process Transformation, Microsoft, Corp., “This, combined with their agility, focus on quality and deep understanding of Microsoft Azure, SharePoint Online, Azure ML and Devices, makes them a strong partner to help us further increase our effectiveness and efficiency.”
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