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CAST AI, a leading SaaS company that specializes in automated cost optimization for customers who run their cloud-native applications on Google Cloud, AWS, and Microsoft Azure.
This collaboration brings together LTIMindtree's Infinity platform, with CAST AI's cloud cost optimization platform to provide enterprises with a complete view of their cloud portfolio. This combined offering will empower organizations to optimize Kubernetes management and costs in a single or multi-cloud environments, without any manual intervention.
The partnership will help companies save, on average, over 60 percent on cloud costs as they modernize legacy applications for cloud migration.
Yuri Frayman, CEO and co-founder, CAST AI, said, “We're thrilled to partner with LTIMindtree, a world leader in helping organizations navigate the digital transformation journey. Our speciality at CAST AI revolves around cloud cost optimization. Google Cloud Platform alone has some hundreds of virtual machines on offer. The manual effort of configuring resources, picking virtual machines, and setting auto-scaling policies is overwhelming. And frankly, it costs more than its optimization impact. We automate the entire process, reducing your cloud costs in real-time.
Nachiket Deshpande, wholetime director, and chief operating officer, LTIMindtree said, “This partnership with CAST AI has enabled us to offer discrete services to our customers aligned with their business goals and objectives.”
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. LTIMindtree a Larsen & Toubro Group company combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale.
LTIMindtree recorded 3.4% increase in consolidated net profit to Rs 1,152.3 crore in Q1 FY24 as against Rs 1,114.1 crore in Q4 FY23. Revenue from operations rose marginally to Rs 8,702.1 crore during the quarter from Rs 8,691 crore posted in Q4 FY23.
The scrip rose 0.49% to Rs 5,150 on the BSE.
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