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Wilmington-based network monitoring software and appliance vendor SevOne today announced its first acquisition since receiving $150 million in funding from Bain Capital last year.
The company is Minneapolis-based RapidEngines, a provider of highly scalable log analytics software for IT enterprises, service providers and application developers."The acquisition of RapidEngines will enhance SevOne’s customers’ ability to proactively identify and resolve performance issues by adding log data analytics to their troubleshooting process,"
said SevOne CEO Jack Sweeney in a statement.
RapidEngines' founders, including Thomas Grabowski, Peter Jordan and Jason DeStefano, had previously been behind the startup LogLogic, which was acquired by Tibco for $130 million in 2012. RapidEngines had received about $1.4 million in funding, according to Crunchbase, and its LinkedIn page has six employees on it, though that figure is not always an accurate indicator.
Terms of the deal were not disclosed.
See also SevOne Acquires Log Analytics Startup (Light Reading)