Crannog Software, a developer of network monitoring management software, has been acquired by the US company Fluke Networks for an undisclosed amount.
Fluke Networks is long established in the network testing, monitoring and analysis market and the company said the acquisition of Crannog would strengthen its product set. Dublin-based Crannog is to be merged with Fluke’s Enterprise Performance Management division when the transaction is completed.
All of the Crannog management and software team is to stay in place after the deal, with the exception of executive chairman Sean McNamee who is stepping down from this role.
Neil Wisdom, EMEA (Europe, Middle East and Africa) business development director with Crannog, said that the company has had “a few approaches” from potential buyers over the course of the past 18 months. “This particular deal is the best fit for the company and the team,” he told siliconrepublic.com.
Crannog was founded in 1998 and employs around 30 people in Dublin, with other employees or contractors based out of offices in the US, UK, continental Europe and Asia. The company hasn’t yet completed its current financial year but it is on course to record revenues of between €8m and €10m.
This is substantial growth on figures for the previous 12 months, which were around €5m. The company has more than 900 customers worldwide in the private and public sectors.
Philip Harragan, CEO of Crannog Software, said: “Combining our areas of expertise with Fluke Networks’ enterprise solutions and worldwide presence will give our customers a more complete management package than we could offer alone.”
This is Fluke Networks’ second major acquisition in the enterprise performance management space in the past 12 months, having already added Visual Networks to its roster as the company seeks to bolster its presence in this market.
It’s thought that Fluke may look to strengthen the Dublin operation as a location for software development as a result of the deal.
By Gordon Smith