Splunk Agrees to Acquire VictorOps
June 11 2018 - 8:00AM
Business Wire
Addition of Incident Management Leader to
Create Collaborative, Analytics-Driven Platform for DevOps
Splunk Inc. (NASDAQ: SPLK), first in delivering “aha” moments
from machine data, today announced a definitive agreement to
acquire VictorOps, Inc., a leader in DevOps incident management.
Under the terms of the agreement, Splunk will acquire VictorOps for
a total purchase price of approximately $120 million, subject to
adjustment, to be paid in cash and Splunk securities. The
acquisition is expected to close during Splunk’s fiscal second
quarter, subject to customary closing conditions.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180611005352/en/
Splunk alert data in VictorOps for DevOps
incident management (Graphic: Business Wire)
“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, President and CEO, Splunk. “This
gives on-call technical staff an analytics-driven platform to
monitor issues, resolve incidents and continuously improve. We are
thrilled to welcome the VictorOps team to the Splunk family as we
extend Splunk’s vision of using data as the backbone of IT.”
“We founded VictorOps to give teams a naturally collaborative
way to quickly resolve incidents,” said Todd Vernon, CEO,
VictorOps. “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. We look forward to joining Splunk and working together
to help solve these complex challenges facing every Development and
DevOps team.”
AI for Collaborative Incident Management
Customers around the world are demanding innovative digital
experiences that place a burden on development teams to innovate
faster than ever before; however, challenges such as vague alerts,
reactive operations and siloed teams often get in the way of
delivering high-quality customer engagements and fully embracing an
IT strategy fueled by AIOps.
To combat this, organizations are increasingly turning towards
artificial intelligence (AI) and machine learning (ML) solutions to
help them focus on critical aspects of the customer experience. By
applying ML and AI 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.
Thousands of customers use Splunk® Enterprise to proactively
monitor, visualize and get answers from their machine data. The
combination of Splunk Enterprise and VictorOps will deliver a
‘Platform of Engagement’– combining monitoring, event management,
on-call management and ChatOps. Ultimately, this enables modern
engineering and operations teams to quickly solve problems in
high-velocity deployment environments to maximize customer
success.
Nearly all of the purchase price consideration will be paid in
cash, funded from Splunk’s balance sheet.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks and uncertainties, including statements regarding the
expected benefits of the acquisition of VictorOps, the impact of
the acquisition on Splunk’s existing and future products and
services, and the capabilities of VictorOps’ products and services,
including when combined with Splunk’s. There are a significant
number of factors that could cause actual results to differ
materially from statements made in this press release, including:
difficulties encountered in closing and integrating the merged
business, technologies, personnel and operations; costs related to
the acquisition; market acceptance of the acquisition and resulting
products and services; Splunk’s inability to realize value from its
significant investments in its business, including product and
service innovations; and general market, political, economic and
business conditions.
Additional information on potential factors that could affect
Splunk’s financial results is included in the company’s Quarterly
Report on Form 10-Q for the quarter ended April 30, 2018, which is
on file with the U.S. Securities and Exchange Commission. Splunk
does not assume any obligation to update the forward-looking
statements provided to reflect events that occur or circumstances
that exist after the date on which they were made.
About Splunk Inc.
Splunk Inc. (NASDAQ: SPLK) turns machine data into answers.
Organizations use market-leading Splunk solutions with machine
learning to solve their toughest IT, Internet of Things and
security challenges. Join millions of passionate users and discover
your “aha” moment with Splunk today: http://www.splunk.com.
Social Media: Twitter | LinkedIn | YouTube | Facebook
Splunk, Splunk>, Listen to Your Data, The Engine for Machine
Data, Splunk Cloud, Splunk Light and SPL are trademarks and
registered trademarks of Splunk Inc. in the United States and other
countries. All other brand names, product names, or trademarks
belong to their respective owners. © 2018 Splunk Inc. All rights
reserved.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180611005352/en/
Media ContactSplunk Inc.Bill Bode,
415-706-1236bbode@splunk.comorInvestor ContactSplunk Inc.Ken
Tinsley, 415-848-8476ktinsley@splunk.com
Splunk (NASDAQ:SPLK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Splunk (NASDAQ:SPLK)
Historical Stock Chart
From Sep 2023 to Sep 2024