VictorOps, a creator of DevOps incident management software, just announced that it has been acquired by San Francisco-based software solutions provider Splunk Inc. — for $120 million.
That’s one way to kick off a Monday.
The Boulder-based company’s incident management software is used by development and DevOps teams to address issues with their deployments. VictorOps will join Splunk’s IT markets group to provide “on-call technical staff an analytics and AI-driven approach for addressing the incident lifecycle,” VictorOps CEO Todd Vernon wrote in a recent blog post announcing the deal.
The combination of Splunk’s machine data analytics, AI and VictorOps’ incident management will help development teams innovate faster, Splunk CEO and president Doug Merritt said in a recent statement.
We are a perfect match to solve this challenging problem facing every DevOps team.”
“Challenges such as vague alerts, reactive operations and siloed teams often get in the way of delivering high-quality customer engagements... By applying AIOps to monitoring, event management and incident management data, Splunk and VictorOps will enable DevOps teams to speed resolution and learn from past actions to make proactive recommendations. We are a perfect match to solve this challenging problem facing every DevOps team,” Rick Fitz, senior vice president and general manager of IT markets for Splunk, said in a statement to Built In Colorado.
In 2016, VictorOps raised $15 million in Series B funding. The company has raised a little over $33 million in total.
The transaction will be paid in cash and Splunk securities and is slated to close during Q2.