Rapid7 Inc., a leading provider of security data and analytics solutions, has today (14 October 2015) announced its acquisition of RevelOps Inc., t/a Logentries, a leading provider of machine data search technology.
Rapid7 has acquired Logentries, a University College Dublin (UCD) spin-out company, for an aggregate purchase price of approximately $68 million, consisting of approximately $36 million in cash and $32 million in Rapid7 equity.
Logentries was co-founded in 2010 by Dr Trevor Parsons and Dr Viliam Holub as a spin-out from UCD’s Performance Engineering Laboratory in the UCD School of Computer Science.
Following the announcement Professor Orla Feely, UCD Vice-President for Research, Innovation and Impact said, “I would like to congratulate Dr Trevor Parsons, Dr Viliam Holub, and the entire Logentries team following the announcement by Rapid7 that it is acquiring the UCD spin-out company for $68 million.”
She added, “Logentries, which emerged from UCD’s research focus on ‘big data’ and the fostering of partnerships by the University with industry, is an excellent example of the quality of the companies emerging from University College Dublin. The company, originally based and supported at NovaUCD, has grown over just five years into a global company delivering significant impact for its thousands of customers around the world.”
She concluded, “I wish the Logentries team continuing success as part of Rapid7. I now look forward to seeking opportunities to develop mutually beneficial partnerships between Rapid7 and UCD in areas of research, innovation and providing access to our pool of talented graduates.”
Since Logentries was established in 2010 it has been supported through NovaUCD, the University’s Centre for New Ventures and Entrepreneurs.
In 2010 the company participated on the University’s Campus Company Development Programme held at NovaUCD. The aim of this 9-month programme was to assist academic and research entrepreneurs, such as Dr Parsons and Dr Holub, in the establishment and development of new high-tech ventures, such as Logentries, to commercialise the output of their research activities.
Logentries was the overall winner of 2010 programme and won the NovaUCD 2010 Start-Up Company of the Year Award and located initially at NovaUCD.
In December 2013 the 2013 NovaUCD Innovation Award was presented to Dr Parsons and Dr Holub in recognition of the global success and impact of Logentries in making log management and analytics accessible to virtually anyone.
Logentries, with approximately 70 employees, is headquartered in Boston, Massachusetts, with a research and development team based in Dublin.
Further information: www.rapid7.com/company/news/press-releases/2015/rapid7-acquires-logentries.jsp