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Splunk acquires cloud monitoring leader SignalFx at $1.05 Billion

Author : Paroma Bhattacharya | Published Date : 2019-08-23 

IT operations management leader Splunk has today announced the acquisition of cloud monitoring company SignalFx for $1.05 billion, which is to be paid approximately 60% in cash and 40% in Splunk common stock under the terms of the acquisition.

According to Splunk, this acquisition will earn them the leading position in APMs and observability for businesses at every cloud computing stage, including cloud-native applications and original on-premise applications.

This acquisition has the potential to elevate Splunk’s prowess in the cloud space                 and expand its support for the cloud-native apps as well as the modern architectures and infrastructure they rely on.

Prior to the acquisition, SignalFx had raised funds worth over $178.5 million, including a recent Series E funding round, backed by investors including, Andreessen Horowitz, CRV, General Catalyst and Tiger Global Management. SignalFx’s customer list includes AthenaHealth, Yelp, Change.org, Kayak and NBCUniversal among others.

Splunk President and CEO, Doug Merritt, has reportedly been quoted to state that the modern business is fueled by data, and acquiring SignalFx has earned Splunk the leading position in monitoring and observability at a huge scale. He further added that SignalFx would sustain Splunk’s commitment to provide customers a single platform to monitor their whole enterprise application lifecycle. Mr. Merritt expressed his appreciation of the leadership, expertise and professionalism displayed by the SignalFx team and stated that they would be a solid addition to the Splunk family.

Karthik Rau, founder and CEO of SignalFx, also spoke about this alliance, stating that by partnering with Splunk, they seek to create a powerful platform for monitoring, to help CIOs benefit from modern application portfolios, at any stage of cloud computing, from having fully embraced cloud systems to having existing applications in data centers. Mr. Rau has further stated that in a world inching towards complex and cloud-first architectures, Splunk & SignalFx will become a revolutionary approach towards monitoring and observability in cloud-native infrastructures in real time, through either logs, tracing or metrics.

The acquisition deal is expected to close by the second half of 2020.

Source Credit: https://techcrunch.com/2019/08/21/splunk-acquires-cloud-monitoring-service-signalfx-for-1-05b/

 

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

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