SevOne buyer to keep tech hub in Newark

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Turbonomic announced the acquisition of privately-held, Boston-based SevOne. SevOne software monitors the performance of computer networks of large companies.

Financial terms were not disclosed

Turbonomic will retain SevOne’s technology center at the University of Delaware Star Campus in Newark.

Customers include Verizon and Comcast.

Turbonomic cited the following advantages to the merger.

“The combined entities, with unique intellectual property, have an incredible opportunity to define the future of performance. Over the last 10 years, we’ve invested $200 million to build the world’s leading Application Resource Management solution. Only Turbonomic enables customers to automate the performance management of applications across virtual, cloud and cloud-native environments,” said Benjamin Nye, CEO at Turbonomic. “In parallel, SevOne has built valuable performance-focused Intellectual Property – from the network up. As part of Turbonomic, there is greater opportunity to enable customers to deliver predictable and reliable application performance.”

“Turbonomic customers take a modern approach to managing application resources with AI-powered automation – of which the network is essential,” said SevOne CEO, Jack Sweeney. “We’re excited to join forces with Turbonomic and help customers leverage the combination of these industry-leading performance platforms.”

SevOne was founded in Newark and grew rapidly for a number of years. The company later moved its headquarters to Boston and founders Vess Bakalov and Tanya Backalov later left the company.

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