JPMorgan Chase Inducts VMTurbo into Hall of Innovation
VMTurbo Enables JPMorgan Chase to Increase Virtual Machine Density Without Impacting Workload Performance
BOSTON–(BUSINESS WIRE)–VMTurbo, provider of the only software-defined control system for businesses running mission-critical applications on virtualized and cloud infrastructures, today announced that JPMorgan Chase & Co. inducted VMTurbo into the Hall of Innovation for its technology contributions in their global technology infrastructure.
The IT Executive Team at JPMorgan Chase recognized VMTurbo for the impact its technology has made on the business and the disruptive nature of its technology. VMTurbo was honored with the award at the 5th Annual J.P. Morgan Technology Innovation Symposium on Wednesday, October 9, 2013 at the Rosewood Sand Hill in Menlo Park.
“VMTurbo’s technology is helping JPMorgan Chase optimize the utilization of virtual environments and thereby supporting a move from reactive to predictive workload management,” said George Sherman, Head of Compute Services at JPMorgan Chase. “Automation will enable our support teams to focus on higher value activity by preventing incidents and dynamically optimizing virtual environments.”
“Through the Hall of Innovation, JPMorgan Chase is happy to recognize emerging technology companies that are helping us deliver differentiated technology solutions,” said Larry Feinsmith, Head of Technology Strategy and Partnership Development within the Office of the CIO at JPMorgan Chase. “We continue to experience significant value through our engagement with early stage companies like VMTurbo, and our relationship has been mutually beneficial to help develop their offering to meet the technology needs of large enterprises.”
First launched in 2010, VMTurbo’s Operation Manager is now used by more than 9,000 enterprises and cloud service providers worldwide, including JPMorgan Chase. Deploying VMTurbo contributes to IT staff productivity savings of up to 20 percent and improvements in resource utilization of 20 to 40 percent – which converts to significant operational and capital expenditure benefits. 89 percent of VMTurbo customers surveyed realized value within three months of deploying VMTurbo, with 25 percent realizing immediate value within three days of deployment.
“JPMorgan Chase’s selection of VMTurbo to proactively manage their VMware environment is a testament to the strength of our solution,” said VMTurbo CEO Ben Nye. “Working together, we have successfully helped them transition from allocation-based to utilization-based capacity management, thus allowing their IT staff to fully optimize their operations and IT investments across the organization.”
“VMTurbo believes that software-driven control of virtualized and cloud environments to assure workload performance while utilizing virtual and cloud infrastructure assets as efficiently as possible is the future of IT as a service,” said VMTurbo founder and president Shmuel Kliger. “This recognition by JPMorgan Chase underscores the market need for a solution that transforms IT Operations.”
VMTurbo provides the only software-defined control system for businesses running mission-critical applications on virtualized or cloud infrastructure. The Company applies proven economic principles to deliver a control system that continuously ensures performance while maximizing utilization to transform IT operations to scale to the complexities and dynamics of a software-defined world. First launched in 2010, the VMTurbo platform is now used by more than 9,000 enterprises and cloud service providers worldwide, including Société Générale, BMO Financial, Xerox Corporation, Reed Elsevier, H&M, BT, CSC and KPN. VMTurbo is headquartered in Massachusetts, with offices in New York, California, the United Kingdom and Israel. For more information, visit us at www.vmturbo.com.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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