Machine data analytics software developer Splunk has struck a deal to acquire VictorOps, a developer of DevOps incident management tools, in a move that will expand Splunk's product lineup for software developers.
Splunk is buying VictorOps for approximately $120 million, the companies said, nearly all in cash with some Splunk securities. Splunk expects to complete the acquisition during its second fiscal quarter, which ends July 31, pending regulatory approvals and other closing conditions.
VictorOps' software is a real-time incident management platform used by development teams to quickly resolve software problems that impact the user experience or lead to security problems.
Combining Splunk's software, with its artificial intelligence and machine learning functionality, with the software monitoring, event management and incident management data capabilities of VictorOps software will help DevOps teams more quickly resolve software problems – and even learn from past actions to make proactive recommendations.
"The combination of machine data analytics and artificial intelligence from Splunk with incident management from VictorOps creates a 'Platform of Engagement' that will help modern development teams innovate faster and deliver better customer experiences," said Doug Merritt, Splunk president and CEO, in a statement. "This gives on-call technical staff an analytics-driven platform to monitor issues, resolve incidents and continuously improve."
"By combining VictorOps incident management capabilities and the Splunk platform, organizations will be able to quickly resolve and even help prevent issues that degrade customer engagement," said Todd Vernon, VictorOps CEO, in the statement. "We look forward to joining Splunk and working together to help solve these complex challenges facing every development and DevOps team."
Splunk, in its announcement, did not provide additional information about its plans for VictorOps. Splunk has made several acquisitions in the last year including Phantom Cyber, a developer of security orchestration and automation response software.
Based in Boulder, Colo., VictorOps was founded in December, 2012. The privately held company is venture backed by Foundry Group and Costanoa Venture Capital and raised a total of $33.7 million in financing, according to Crunchbase.