PE-backed SevOne buys RapidEngines

SevOne, which is backed by Bain Capital, has acquired RapidEngines. No financial terms were disclosed for the transaction, which was completed on March 27, 2014. Based in Minneapolis, RapidEngines is a provider of log analytics solutions for IT enterprises, service providers and application developers.

PRESS RELEASE

WILMINGTON, Del.–(BUSINESS WIRE)–SevOne, the leader of scalable performance monitoring solutions to the world’s most connected companies, today announced it has acquired RapidEngines, a leading provider of highly scalable log analytics software for IT enterprises, service providers and application developers. The acquisition is the first from SevOne since closing the $150M investment from Bain Capital which remains one of the largest venture financings of 2013. SevOne’s large 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 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.”
According to Jim Frey, Vice President of Research at Enterprise Management Associates, “Organizations should ensure that log analytics is a key component of their overall performance monitoring strategy. EMA research evidences strong and growing interest in leveraging log data across multiple infrastructure planning and operations management use cases. But to fully realize the potential complementary value of unstructured log data, it must be aligned and integrated with structured management data, and manual analysis must be replaced with automated approaches,” explained Frey. “By combining the RapidEngines capabilities with its existing solution, SevOne will be the first to truly integrate log data into an enterprise-class, carrier-grade performance management system.”
“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.”
The transaction closed on March 27, 2014. RapidEngines will be combined with SevOne’s team. Additional terms were not disclosed.
About SevOne
Founded in 2005, SevOne is headquartered in Wilmington, Delaware. SevOne provides the world’s most scalable performance monitoring platform to the world’s most connected companies. SevOne’s patented architecture, the SevOne Cluster™, leverages distributed computing to effectively collect millions of key performance indicators and to provide proactive alerts when performance deviates from normal. SevOne’s platform provides a single source of truth for future-ready customers including global enterprises, finance and healthcare companies, CSPs, MSPs and MSOs. More information can be found at www.sevone.com and on Twitter @SevOneInc.

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