SevOne, based in Pike Creek, announced it has acquired RapidEngines, a provider of scalable log analytics software for IT enterprises, service providers and application developers. Terms were not disclosed.
The acquisition is the first from SevOne since closing the $150 million investment from Bain Capital. It remains one of the largest venture investments of 2013. SevOne’s customer base will now have access to RapidEngines’ log analytics software granting users the benefit of automatically collecting and organizing log data to better provide a detailed picture of user and machine behavior.
“SevOne’s patented architecture provides unique value to organizations that rely heavily on the uninterrupted performance of their networks and data centers,” said Jack Sweeney, CEO of SevOne. “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.” SevOne’s founder Senior Vice President and CTO, Vess Bakalov, adds, “Incorporating log analytics into SevOne’s all-in-one solution allows for deeper visibility within another dimension of performance management.”
“We’re excited to join forces with the SevOne team,” said Thomas Grabowski, Co-Founder and CEO of RapidEngines, and original co-founder of LogLogic. “The acquisition catapults SevOne to the forefront of performance monitoring and diagnostic solutions.” he transaction closed on March 27. RapidEngines will be combined with SevOne’s team. Additional terms were not disclosed.
Founded in 2005, SevOne’s patented architecture, the SevOne Cluster , leverages distributed computing to effectively collect millions of key performance indicators and to provide alerts when performance deviates from normal. SevOne has 270 employees and recently expanded its office in Center City Philadelphia. SevOne has 30 employees in Philadelphia, with that number expected to increase to 50.
